Coldstream Capital Management Inc. Purchases 1,770 Shares of Eaton Co. plc (NYSE:ETN)

Coldstream Capital Management Inc. raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 19.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,828 shares of the industrial products company's stock after purchasing an additional 1,770 shares during the quarter. Coldstream Capital Management Inc.'s holdings in Eaton were worth $3,615,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Great Valley Advisor Group Inc. lifted its stake in Eaton by 50.4% in the second quarter. Great Valley Advisor Group Inc. now owns 4,377 shares of the industrial products company's stock valued at $1,373,000 after acquiring an additional 1,467 shares during the last quarter. ORG Partners LLC bought a new stake in Eaton in the second quarter worth $178,000. Cornerstone Wealth Management LLC increased its position in Eaton by 3.5% during the second quarter. Cornerstone Wealth Management LLC now owns 1,723 shares of the industrial products company's stock worth $540,000 after buying an additional 58 shares during the last quarter. SteelPeak Wealth LLC bought a new position in Eaton during the second quarter valued at about $526,000. Finally, Leavell Investment Management Inc. lifted its position in shares of Eaton by 67.6% in the second quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company's stock worth $2,683,000 after buying an additional 3,452 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETN has been the topic of a number of analyst reports. Jefferies Financial Group increased their price objective on Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a report on Friday, December 6th. Raymond James dropped their price target on shares of Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a research report on Monday, September 9th. Royal Bank of Canada restated an "outperform" rating and issued a $374.00 price objective on shares of Eaton in a research note on Friday, November 1st. Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Finally, Evercore ISI cut Eaton from an "outperform" rating to an "inline" rating and increased their price objective for the company from $333.00 to $389.00 in a research report 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. Based on data from MarketBeat, Eaton has a consensus rating of "Moderate Buy" and an average price target of $367.83.

Eaton Price Performance

NYSE ETN traded up $3.50 during trading hours on Wednesday, reaching $361.99. 2,440,743 shares of the company's stock were exchanged, compared to its average volume of 2,089,836. The firm has a fifty day moving average of $354.02 and a 200-day moving average of $326.12. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a one year low of $231.84 and a one year high of $379.99. The stock has a market cap of $143.06 billion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 2.81 and a beta of 1.03.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $2.47 earnings per share. On average, equities research analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given 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 payout ratio is 40.00%.

Insider Activity at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company's stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company's stock, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,981 shares of company stock worth $24,100,317 over the last 90 days. Insiders own 0.53% of the company's stock.

Eaton 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.