Great Valley Advisor Group Inc. Has $2.80 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Great Valley Advisor Group Inc. raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 92.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,433 shares of the industrial products company’s stock after purchasing an additional 4,056 shares during the period. Great Valley Advisor Group Inc.’s holdings in Eaton were worth $2,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ETN. Legal & General Group Plc grew its position in shares of 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 worth $1,005,317,000 after buying an additional 18,077 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Eaton by 2.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock valued at $471,370,000 after purchasing an additional 40,078 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Eaton by 15.5% in the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after purchasing an additional 176,571 shares during the period. International Assets Investment Management LLC boosted its position in shares of Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after purchasing an additional 1,070,024 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Eaton by 8.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 923,033 shares of the industrial products company’s stock valued at $305,930,000 after buying an additional 74,415 shares during the period. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

ETN opened at $377.41 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The business’s 50-day simple moving average is $342.75 and its 200 day simple moving average is $322.91. The firm has a market capitalization of $149.15 billion, a PE ratio of 40.15, a PEG ratio of 2.94 and a beta of 1.01. Eaton Co. plc has a 52-week low of $224.52 and a 52-week high of $378.00.

Eaton (NYSE:ETN) last announced 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 return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the prior year, the business posted $2.47 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a research report on Friday, November 1st. Citigroup started coverage on shares of Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. UBS Group assumed coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Finally, Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $357.83.

Insider Activity

In other news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated 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 directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The trade was a 44.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,705 shares of company stock valued at $24,516,346. 0.53% of the stock is owned by company insiders.

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.