Joseph Group Capital Management Has $4.26 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Joseph Group Capital Management raised its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 27.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,849 shares of the industrial products company's stock after acquiring an additional 2,782 shares during the quarter. Eaton comprises 1.6% of Joseph Group Capital Management's holdings, making the stock its 12th largest position. Joseph Group Capital Management's holdings in Eaton were worth $4,259,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of ETN. Breakwater Investment Management increased its holdings in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock worth $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. acquired a new stake in shares of Eaton during the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC acquired a new stake in shares of Eaton during the 2nd quarter worth approximately $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton during the 3rd quarter worth approximately $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in shares of Eaton during the 2nd quarter worth approximately $37,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Mizuho increased their price target 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. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They set a "buy" rating and a $348.00 price target on the stock. Barclays cut their target price 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. Morgan Stanley began coverage on shares of Eaton in a research report on Friday, September 6th. They issued an "overweight" rating and a $370.00 target price on the stock. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $374.00 target price on shares of Eaton in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $357.83.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company's stock, valued at approximately $1,186,411.68. The trade was a 44.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karenann K. Terrell purchased 500 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now owns 500 shares of the company's stock, valued at approximately $149,485. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 68,705 shares of company stock valued at $24,516,346 over the last quarter. Insiders own 0.33% of the company's stock.

Eaton Trading Up 1.6 %

NYSE ETN traded up $5.83 during mid-day trading on Tuesday, reaching $363.66. 1,796,959 shares of the stock were exchanged, compared to its average volume of 2,109,122. Eaton Co. plc has a one year low of $224.52 and a one year high of $373.49. The stock has a 50 day simple moving average of $337.19 and a 200-day simple moving average of $321.74. The stock has a market cap of $143.72 billion, a P/E ratio of 38.63, 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 (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, topping analysts' consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the firm earned $2.47 earnings per share. Eaton's quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Monday, November 4th. Eaton's dividend payout ratio is presently 40.00%.

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.