Eaton Co. plc (NYSE:ETN) Shares Purchased by Mizuho Securities USA LLC

Mizuho Securities USA LLC grew its position in Eaton Co. plc (NYSE:ETN) by 2.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 31,709 shares of the industrial products company’s stock after acquiring an additional 884 shares during the quarter. Mizuho Securities USA LLC’s holdings in Eaton were worth $10,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ETN. IAM Advisory LLC acquired a new stake in shares of Eaton during the second quarter worth $599,000. Interval Partners LP increased its position in Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after purchasing an additional 68,693 shares during the period. Scientech Research LLC raised its stake in shares of Eaton by 285.5% during the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after buying an additional 4,254 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Eaton by 25.9% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock valued at $8,657,000 after buying an additional 5,676 shares during the period. Finally, Leavell Investment Management Inc. boosted its stake in shares of Eaton by 67.6% in the second quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company’s stock valued at $2,683,000 after buying an additional 3,452 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 68,705 shares of company stock valued at $24,516,346. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $358.99 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a market cap of $141.87 billion, a PE ratio of 38.19, a P/E/G ratio of 2.96 and a beta of 1.01. The firm has a 50 day simple moving average of $335.82 and a 200-day simple moving average of $321.37. Eaton Co. plc has a 1-year low of $224.52 and a 1-year high of $373.49.

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

Eaton Dividend Announcement

The business 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 dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.05%. Eaton’s payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and upped their target price for the stock from $333.00 to $389.00 in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Barclays decreased their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.83.

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.