Eaton Co. plc (NYSE:ETN) Shares Acquired by Coastline Trust Co

Coastline Trust Co lifted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 13.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,475 shares of the industrial products company's stock after purchasing an additional 1,525 shares during the period. Coastline Trust Co's holdings in Eaton were worth $4,135,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. IAM Advisory LLC purchased a new stake in shares of Eaton in the 2nd quarter worth about $599,000. Interval Partners LP grew its position in shares of Eaton by 82.7% in the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company's stock valued at $47,571,000 after purchasing an additional 68,693 shares during the last quarter. Scientech Research LLC increased its stake in shares of Eaton by 285.5% during the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company's stock worth $1,801,000 after purchasing an additional 4,254 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Eaton by 25.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company's stock worth $8,657,000 after purchasing an additional 5,676 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its holdings in Eaton by 67.6% during the 2nd quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company's stock valued at $2,683,000 after buying an additional 3,452 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the subject of a number of analyst reports. UBS Group initiated coverage on Eaton in a report on Wednesday. They issued a "buy" rating and a $431.00 price target for the company. 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 report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Evercore ISI lowered shares of Eaton from an "outperform" rating to an "inline" rating and raised their target price for the stock from $333.00 to $389.00 in a research report on Wednesday. Finally, Raymond James cut their price target on Eaton from $375.00 to $365.00 and set an "outperform" rating for the company in a report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $357.83.

Eaton Trading Down 0.8 %

Shares of Eaton stock traded down $2.87 during trading hours on Friday, hitting $358.99. The company's stock had a trading volume of 2,232,026 shares, compared to its average volume of 2,112,767. 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 company has a market capitalization of $141.87 billion, a PE ratio of 38.19, a P/E/G ratio of 2.96 and a beta of 1.01. The business has a fifty day moving average of $335.82 and a 200 day moving average of $321.35. 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 released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the company posted $2.47 earnings per share. The firm's revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts forecast 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. This represents a $3.76 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Monday, November 4th. Eaton's dividend payout ratio (DPR) is 40.00%.

Insider Activity

In other Eaton news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the sale, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. The trade was a 44.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares of the company's stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,705 shares of company stock worth $24,516,346 over the last 90 days. Company 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.