Douglass Winthrop Advisors LLC Buys 450 Shares of Eaton Co. plc (NYSE:ETN)

Douglass Winthrop Advisors LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,530 shares of the industrial products company’s stock after acquiring an additional 450 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Eaton were worth $839,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in Eaton by 1.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 576,657 shares of the industrial products company’s stock valued at $180,310,000 after acquiring an additional 8,153 shares during the period. Ascent Group LLC bought a new stake in shares of Eaton during the 1st quarter worth about $231,000. Bayesian Capital Management LP acquired a new position in Eaton in the 1st quarter valued at about $600,000. Dynasty Wealth Management LLC bought a new position in Eaton in the 1st quarter valued at about $1,007,000. Finally, Castleark Management LLC lifted its position in Eaton by 181.7% during the first quarter. Castleark Management LLC now owns 38,245 shares of the industrial products company’s stock worth $11,958,000 after acquiring an additional 24,670 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In related news, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,705 shares of company stock worth $24,516,346. 0.33% of the stock is currently owned by insiders.

Eaton Stock Performance

NYSE:ETN opened at $376.56 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $148.81 billion, a PE ratio of 40.06, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $379.12. The stock’s 50-day simple moving average is $344.15 and its 200 day simple moving average is $323.22.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the company earned $2.47 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Wells Fargo & Company increased their price objective on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research report on Friday, November 1st. Bank of America raised their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Raymond James cut their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average price target of $357.83.

About Eaton

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.