Eaton Co. plc (NYSE:ETN) Shares Acquired by Centaurus Financial Inc.

Centaurus Financial Inc. lifted its holdings in Eaton Co. plc (NYSE:ETN) by 61.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,978 shares of the industrial products company’s stock after acquiring an additional 754 shares during the quarter. Centaurus Financial Inc.’s holdings in Eaton were worth $655,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Breakwater Investment Management raised its stake in shares of Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after buying an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new position in Eaton during the second quarter valued at approximately $29,000. LGT Financial Advisors LLC acquired a new position in Eaton in the second quarter valued at approximately $33,000. West Financial Advisors LLC purchased a new stake in Eaton in the 3rd quarter worth approximately $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in shares of Eaton during the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now owns 2,205 shares in the company, valued at $662,161.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction dated 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 owns 3,914 shares in the company, 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 a total of 68,705 shares of company stock valued at $24,516,346 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ETN. Citigroup began coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Raymond James decreased their price objective 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. Barclays dropped their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company upped their price target on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Mizuho raised their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $357.83.

Eaton Stock Down 0.2 %

ETN stock opened at $376.56 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average of $344.15 and a two-hundred day moving average of $323.22. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $379.12. The company has a market cap of $148.81 billion, a price-to-earnings ratio of 40.06, a PEG ratio of 2.99 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its 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. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company 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 business earned $2.47 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, analysts forecast that Eaton Co. plc will post 10.8 earnings per share 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 of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.00%. Eaton’s payout ratio is 40.00%.

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.