Bedell Frazier Investment Counselling LLC Buys 115 Shares of Eaton Co. plc (NYSE:ETN)

Bedell Frazier Investment Counselling LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,661 shares of the industrial products company’s stock after acquiring an additional 115 shares during the quarter. Bedell Frazier Investment Counselling LLC’s holdings in Eaton were worth $882,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Independent Advisor Alliance increased its holdings in shares of Eaton by 27.0% during the third quarter. Independent Advisor Alliance now owns 33,861 shares of the industrial products company’s stock worth $11,223,000 after purchasing an additional 7,197 shares during the period. Prosperity Financial Group Inc. increased its holdings in shares of Eaton by 150.8% during the third quarter. Prosperity Financial Group Inc. now owns 3,310 shares of the industrial products company’s stock worth $1,097,000 after purchasing an additional 1,990 shares during the period. Bank of Hawaii increased its holdings in shares of Eaton by 1.2% during the third quarter. Bank of Hawaii now owns 5,922 shares of the industrial products company’s stock worth $1,963,000 after purchasing an additional 69 shares during the period. Douglass Winthrop Advisors LLC increased its holdings in shares of Eaton by 21.6% during the third quarter. Douglass Winthrop Advisors LLC now owns 2,530 shares of the industrial products company’s stock worth $839,000 after purchasing an additional 450 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of Eaton by 3.6% during the third quarter. Fisher Asset Management LLC now owns 203,302 shares of the industrial products company’s stock worth $67,383,000 after purchasing an additional 7,129 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This trade represents a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,705 shares of company stock valued at $24,516,346 over the last quarter. Insiders own 0.33% of the company’s stock.

Eaton Price Performance

ETN stock opened at $377.41 on Monday. The company has a fifty day moving average price of $342.75 and a 200-day moving average price of $322.91. The company has a market capitalization of $149.15 billion, a P/E ratio of 40.15, a PEG ratio of 2.99 and a beta of 1.01. Eaton Co. plc has a 52-week low of $224.52 and a 52-week high of $378.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.47 earnings per share. As a group, equities analysts expect that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and increased their price target for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average price target of $357.83.

Eaton Company 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.