Sanctuary Advisors LLC Raises Stock Position in Eaton Co. plc (NYSE:ETN)

Sanctuary Advisors LLC boosted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 32.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,621 shares of the industrial products company's stock after purchasing an additional 27,351 shares during the quarter. Sanctuary Advisors LLC's holdings in Eaton were worth $37,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tudor Financial Inc. bought a new stake in Eaton in the 3rd quarter valued at about $265,000. Chelsea Counsel Co. increased its holdings in shares of Eaton by 29.4% during the third quarter. Chelsea Counsel Co. now owns 220 shares of the industrial products company's stock valued at $73,000 after acquiring an additional 50 shares in the last quarter. Advisory Resource Group raised its position in shares of Eaton by 10.9% during the third quarter. Advisory Resource Group now owns 4,358 shares of the industrial products company's stock worth $1,444,000 after purchasing an additional 428 shares during the period. Bard Financial Services Inc. bought a new position in shares of Eaton in the 3rd quarter worth $255,000. Finally, TCW Group Inc. grew its position in Eaton by 2.5% in the 3rd quarter. TCW Group Inc. now owns 99,395 shares of the industrial products company's stock valued at $32,943,000 after purchasing an additional 2,451 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Eaton

In related news, 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 sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares of the company's stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,981 shares of company stock worth $24,100,317. 0.53% of the stock is owned by company insiders.

Eaton Stock Performance

NYSE ETN traded down $3.21 during trading hours on Thursday, reaching $358.71. 1,222,581 shares of the company were exchanged, compared to its average volume of 2,086,222. The stock has a market capitalization of $141.76 billion, a P/E ratio of 38.16, a P/E/G ratio of 2.81 and a beta of 1.03. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 1 year low of $231.84 and a 1 year high of $379.99. The business's 50 day simple moving average is $354.70 and its 200-day simple moving average is $326.37.

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 the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the business posted $2.47 EPS. Eaton's quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. Eaton's dividend payout ratio is presently 40.00%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. Jefferies Financial Group boosted their price objective on Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a report on Friday, December 6th. 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. Finally, Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They set an "outperform" rating and a $382.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.