Caprock Group LLC Has $3.64 Million Holdings in Eaton Co. plc (NYSE:ETN)

Caprock Group LLC raised its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 50.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,976 shares of the industrial products company's stock after purchasing an additional 3,660 shares during the period. Caprock Group LLC's holdings in Eaton were worth $3,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Strategic Wealth Partners Ltd. boosted its holdings in Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company's stock valued at $340,000 after acquiring an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD lifted its stake in shares of Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company's stock valued at $71,000 after buying an additional 30 shares in the last quarter. Legacy Capital Group California Inc. raised its stake in shares of Eaton by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company's stock worth $870,000 after purchasing an additional 32 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company's stock valued at $513,000 after purchasing an additional 32 shares in the last quarter. Finally, Well Done LLC grew its stake in Eaton by 1.3% in the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company's stock valued at $800,000 after purchasing an additional 33 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company's stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. The trade was a 44.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,705 shares of company stock valued at $24,516,346. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup initiated coverage on Eaton in a research note on Monday, September 16th. They set a "buy" rating and a $348.00 price target for the company. Morgan Stanley began coverage on shares of Eaton in a report on Friday, September 6th. They set an "overweight" rating and a $370.00 target price on the stock. Sanford C. Bernstein assumed coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 target price on the stock. UBS Group started coverage on Eaton in a research report on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price objective on the stock. Finally, Barclays decreased their price target on Eaton from $327.00 to $320.00 and set an "equal weight" rating on the stock in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $357.83.

Eaton Stock Performance

NYSE ETN traded down $3.23 on Wednesday, hitting $360.46. 1,291,740 shares of the company's stock were exchanged, compared to its average volume of 2,106,570. The firm's 50-day moving average price is $338.69 and its two-hundred day moving average price is $322.04. The firm has a market cap of $142.45 billion, a price-to-earnings ratio of 38.44, a P/E/G ratio of 2.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a fifty-two week low of $224.52 and a fifty-two week high of $373.49.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The company 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 firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $2.47 EPS. On average, research analysts expect that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The company 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 $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. Eaton's payout ratio is currently 40.00%.

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.