Victory Capital Management Inc. Boosts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Victory Capital Management Inc. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,528 shares of the industrial products company’s stock after buying an additional 11,550 shares during the quarter. Victory Capital Management Inc. owned about 0.08% of Eaton worth $110,876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Aptus Capital Advisors LLC boosted its holdings in shares of Eaton by 20.9% in the third quarter. Aptus Capital Advisors LLC now owns 32,562 shares of the industrial products company’s stock worth $10,792,000 after acquiring an additional 5,639 shares during the period. Aigen Investment Management LP bought a new position in Eaton in the 3rd quarter worth about $896,000. Savvy Advisors Inc. boosted its stake in Eaton by 249.7% in the 3rd quarter. Savvy Advisors Inc. now owns 3,840 shares of the industrial products company’s stock worth $1,273,000 after purchasing an additional 2,742 shares during the period. Ashton Thomas Private Wealth LLC grew its holdings in Eaton by 2.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 24,676 shares of the industrial products company’s stock valued at $8,179,000 after buying an additional 523 shares in the last quarter. Finally, Winslow Asset Management Inc. lifted its holdings in shares of Eaton by 0.5% in the third quarter. Winslow Asset Management Inc. now owns 29,471 shares of the industrial products company’s stock worth $9,768,000 after buying an additional 154 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other Eaton news, insider Craig Arnold sold 61,569 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Craig Arnold sold 61,569 shares of the firm’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 transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,745 shares of company stock worth $39,278,367 in the last quarter. 0.33% of the stock is owned by company insiders.

Eaton Price Performance

Shares of Eaton stock opened at $369.05 on Wednesday. The business’s 50 day simple moving average is $329.60 and its two-hundred day simple moving average is $320.18. Eaton Co. plc has a one year low of $220.24 and a one year high of $373.49. 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 stock has a market capitalization of $145.85 billion, a P/E ratio of 39.26, a price-to-earnings-growth ratio of 2.98 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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 firm 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 quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $2.47 EPS. Analysts forecast that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Analysts Set New Price Targets

Several brokerages have commented on ETN. Raymond James cut their price target 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. Wells Fargo & Company lifted 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. Royal Bank of Canada restated an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research note on Friday, November 1st. Mizuho lifted their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, 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 price objective for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $343.28.

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.