Citizens Financial Group Inc. RI Raises Position in Eaton Co. plc (NYSE:ETN)

Citizens Financial Group Inc. RI raised its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 14.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,092 shares of the industrial products company's stock after acquiring an additional 11,484 shares during the period. Citizens Financial Group Inc. RI's holdings in Eaton were worth $30,523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Payden & Rygel raised its position in shares of Eaton by 64.8% during the third quarter. Payden & Rygel now owns 81,640 shares of the industrial products company's stock worth $27,059,000 after purchasing an additional 32,100 shares during the period. EagleClaw Capital Managment LLC raised its stake in Eaton by 0.7% in the third quarter. EagleClaw Capital Managment LLC now owns 41,440 shares of the industrial products company's stock valued at $13,735,000 after purchasing an additional 275 shares in the last quarter. Grandfield & Dodd LLC boosted its stake in shares of Eaton by 4.9% in the 3rd quarter. Grandfield & Dodd LLC now owns 2,994 shares of the industrial products company's stock valued at $992,000 after purchasing an additional 140 shares in the last quarter. Portfolio Design Labs LLC bought a new stake in shares of Eaton during the third quarter worth about $1,885,000. Finally, Howe & Rusling Inc. grew its position in shares of Eaton by 8.4% in the 3rd quarter. Howe & Rusling Inc. now owns 900 shares of the industrial products company's stock valued at $298,000 after buying an additional 70 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 3.3 %

Shares of ETN stock traded up $11.76 during trading hours on Thursday, hitting $372.22. 577,886 shares of the company were exchanged, compared to its average volume of 2,099,617. The firm has a market cap of $147.10 billion, a PE ratio of 39.59, a PEG ratio of 2.89 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average of $339.96 and a 200 day moving average of $322.31. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $373.49.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 earnings per share. Analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced 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. This represents a $3.76 annualized dividend and a yield of 1.01%. The ex-dividend date is Monday, November 4th. Eaton's dividend payout ratio is 40.00%.

Analysts Set New Price Targets

A number of research firms recently commented on ETN. Bank of America increased their price target on Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Barclays decreased their price objective on shares of Eaton from $327.00 to $320.00 and set an "equal weight" rating on the stock in a research report on Friday, November 1st. Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an "outperform" rating and a $382.00 price target for the company. Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, Evercore ISI cut Eaton from an "outperform" rating to an "inline" rating and increased their target price for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $357.83.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction dated 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 sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dorothy C. Thompson purchased 2,205 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company's stock, valued at approximately $662,161.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 68,705 shares of company stock worth $24,516,346. 0.53% of the stock is owned by 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.