Aljian Capital Management LLC Makes New $1.05 Million Investment in Eaton Co. plc (NYSE:ETN)

Aljian Capital Management LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,157 shares of the industrial products company's stock, valued at approximately $1,046,000.

Several other large investors have also recently made changes to their positions in the business. Breakwater Investment Management grew its holdings in shares of Eaton by 1,560.0% during the second 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 stake in Eaton during the 2nd quarter valued at $29,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton in the 2nd quarter worth $33,000. West Financial Advisors LLC bought a new position in shares of Eaton during the third quarter valued at $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Eaton during the second quarter valued at $37,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ETN shares. Bank of America upped their target price on shares of Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Evercore ISI downgraded shares of Eaton from an "outperform" rating to an "inline" rating and lifted their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Barclays decreased their target price on shares of Eaton from $327.00 to $320.00 and set an "equal weight" rating for the company in a research note on Friday, November 1st. Mizuho lifted their price objective on Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Wolfe Research raised Eaton from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and a consensus price target of $357.83.

Eaton Price Performance

ETN traded down $1.16 during trading on Monday, reaching $357.83. 1,611,737 shares of the company traded hands, compared to its average volume of 2,110,521. Eaton Co. plc has a 12-month low of $224.52 and a 12-month high of $373.49. The firm has a fifty day simple moving average of $337.19 and a 200 day simple moving average of $321.74. 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 company has a market cap of $141.41 billion, a P/E ratio of 38.07, a PEG ratio of 2.85 and a beta of 1.01.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.47 EPS. On average, equities analysts forecast that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.05%. Eaton's dividend payout ratio (DPR) is currently 40.00%.

Insiders Place Their Bets

In other news, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at $149,485. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the company's stock in a transaction dated 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 transaction, 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. Insiders sold 68,705 shares of company stock valued at $24,516,346 in the last three months. Corporate insiders own 0.53% of the company's stock.

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.