Eaton Co. plc (NYSE:ETN) is Dover Advisors LLC’s 6th Largest Position

Dover Advisors LLC boosted its position in Eaton Co. plc (NYSE:ETN) by 0.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,852 shares of the industrial products company’s stock after buying an additional 40 shares during the period. Eaton accounts for approximately 2.2% of Dover Advisors LLC’s holdings, making the stock its 6th biggest holding. Dover Advisors LLC’s holdings in Eaton were worth $3,928,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Legal & General Group Plc raised its stake in Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after purchasing an additional 18,077 shares during the period. Capital World Investors raised its position in Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after purchasing an additional 2,439,270 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Eaton by 15.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock valued at $412,108,000 after purchasing an additional 176,571 shares in the last quarter. Jennison Associates LLC boosted its stake in Eaton by 2,857.4% in the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after purchasing an additional 1,219,790 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of Eaton by 61.4% during the first quarter. Lord Abbett & CO. LLC now owns 790,182 shares of the industrial products company’s stock valued at $247,074,000 after purchasing an additional 300,689 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Down 2.2 %

NYSE ETN traded down $7.57 during trading on Tuesday, reaching $338.04. 1,860,784 shares of the company’s stock were exchanged, compared to its average volume of 2,128,036. The company has a 50 day moving average price of $309.18 and a two-hundred day moving average price of $315.84. The stock has a market cap of $135.15 billion, a P/E ratio of 40.84, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $347.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. On average, equities research analysts anticipate that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ETN shares. Citigroup assumed coverage on shares of Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Barclays increased their price target on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada dropped their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Raymond James decreased their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $339.47.

Insider Transactions at Eaton

In related news, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 52,511 shares of company stock valued at $15,809,326. Insiders own 0.53% of the company’s stock.

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.