Brown Financial Advisors Invests $1 Million in Eaton Co. plc (NYSE:ETN)

Brown Financial Advisors purchased a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,020 shares of the industrial products company's stock, valued at approximately $1,001,000.

Several other hedge funds also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company's stock valued at $753,590,000 after acquiring an additional 1,629,856 shares during the period. International Assets Investment Management LLC grew its holdings 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 valued at $355,959,000 after buying an additional 1,070,024 shares during the last quarter. Swedbank AB bought a new stake in shares of Eaton during the second quarter worth about $225,974,000. Assenagon Asset Management S.A. lifted its position in Eaton by 1,604.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company's stock valued at $211,201,000 after acquiring an additional 634,059 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock valued at $801,798,000 after purchasing an additional 597,700 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ETN shares. Wells Fargo & Company raised their target price on Eaton from $315.00 to $342.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Morgan Stanley started coverage on shares of Eaton in a research note on Friday, September 6th. They issued an "overweight" rating and a $370.00 target price for the company. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They set an "outperform" rating and a $382.00 price target on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $374.00 price objective on shares of Eaton in a research note on Friday, November 1st. Finally, UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $367.83.

Insider Activity

In other Eaton news, insider Craig Arnold sold 61,569 shares of the firm'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 completion of the sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares of the company's stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,981 shares of company stock valued at $24,100,317. Insiders own 0.53% of the company's stock.

Eaton Price Performance

Eaton stock traded up $4.09 during midday trading on Wednesday, hitting $362.58. 1,466,368 shares of the company's stock were exchanged, compared to its average volume of 2,085,610. Eaton Co. plc has a 52-week low of $231.84 and a 52-week high of $379.99. 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 $143.29 billion, a P/E ratio of 38.23, a PEG ratio of 2.81 and a beta of 1.03. The stock has a 50-day moving average price of $354.02 and a two-hundred day moving average price of $326.12.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating 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 business 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 firm earned $2.47 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. On average, equities research analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. Eaton's dividend payout ratio (DPR) is currently 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.