Logan Capital Management Inc. Has $8.21 Million Holdings in Eaton Co. plc (NYSE:ETN)

Logan Capital Management Inc. lifted its position in Eaton Co. plc (NYSE:ETN - Free Report) by 76.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,771 shares of the industrial products company's stock after acquiring an additional 10,764 shares during the period. Logan Capital Management Inc.'s holdings in Eaton were worth $8,210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company's stock valued at $753,590,000 after purchasing an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock worth $355,959,000 after buying an additional 1,070,024 shares during the period. Janus Henderson Group PLC lifted its stake in Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock valued at $801,798,000 after buying an additional 597,700 shares in the last quarter. Wulff Hansen & CO. increased its position in shares of Eaton by 31,255.0% during the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company's stock worth $149,928,000 after acquiring an additional 476,639 shares in the last quarter. Finally, Electron Capital Partners LLC raised its holdings in shares of Eaton by 8,348.9% during the second quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company's stock worth $140,008,000 after acquiring an additional 441,239 shares during the period. Institutional investors own 82.97% of the company's stock.

Eaton Stock Performance

ETN traded down $2.46 during trading on Friday, hitting $356.18. The stock had a trading volume of 1,165,020 shares, compared to its average volume of 2,082,403. The company has a 50 day moving average price of $355.33 and a 200-day moving average price of $326.59. The firm has a market cap of $140.76 billion, a price-to-earnings ratio of 37.87, a P/E/G ratio of 2.74 and a beta of 1.03. Eaton Co. plc has a one year low of $231.84 and a one year high of $379.99. 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 issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (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 business had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same period in the previous year, the company posted $2.47 earnings per share. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, research analysts predict that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid 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 1.06%. Eaton's dividend payout ratio (DPR) is 40.00%.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company's stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,981 shares of company stock valued at $24,100,317. Corporate insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ETN. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Morgan Stanley initiated coverage on shares of Eaton in a research note on Friday, September 6th. They issued an "overweight" rating and a $370.00 price target on the stock. Jefferies Financial Group raised 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. Finally, Raymond James dropped their target price on Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $367.83.

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.