Eaton Co. plc (NYSE:ETN) Shares Bought by EagleClaw Capital Managment LLC

EagleClaw Capital Managment LLC lifted its position in Eaton Co. plc (NYSE:ETN) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,440 shares of the industrial products company’s stock after acquiring an additional 275 shares during the quarter. Eaton makes up about 2.3% of EagleClaw Capital Managment LLC’s holdings, making the stock its 7th biggest holding. EagleClaw Capital Managment LLC’s holdings in Eaton were worth $13,735,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Strategic Wealth Partners Ltd. boosted its position in shares of Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD raised its holdings in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 30 shares during the period. Legacy Capital Group California Inc. grew its stake in Eaton by 1.2% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after buying an additional 32 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Eaton by 2.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after buying an additional 32 shares during the last quarter. Finally, Well Done LLC grew its position in shares of Eaton by 1.3% during the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 33 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other Eaton news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 44.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,705 shares of company stock worth $24,516,346 in the last three months. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

ETN has been the topic of several analyst reports. Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Morgan Stanley started coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Barclays dropped their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Finally, Mizuho lifted their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average target price of $357.83.

Eaton Price Performance

ETN stock traded up $0.14 during midday trading on Wednesday, reaching $363.83. The company had a trading volume of 171,830 shares, compared to its average volume of 2,100,828. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $373.49. The company has a market capitalization of $143.79 billion, a P/E ratio of 38.69, a P/E/G ratio of 2.85 and a beta of 1.01. The firm has a 50-day moving average price of $338.69 and a 200-day moving average price of $322.04.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.47 EPS. On average, research analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. Eaton’s payout ratio is 40.00%.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.