Eaton Co. plc (NYSE:ETN) Shares Purchased by Lifeworks Advisors LLC

Lifeworks Advisors LLC boosted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 22.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,016 shares of the industrial products company's stock after purchasing an additional 1,653 shares during the quarter. Lifeworks Advisors LLC's holdings in Eaton were worth $2,988,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its stake in shares of Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company's stock worth $1,005,317,000 after purchasing an additional 18,077 shares during the last quarter. Capital World Investors grew its stake in shares of Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company's stock worth $998,255,000 after purchasing an additional 2,439,270 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Eaton by 2.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company's stock worth $471,370,000 after buying an additional 40,078 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Eaton by 15.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company's stock valued at $412,108,000 after acquiring an additional 176,571 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock worth $355,959,000 after purchasing an additional 1,070,024 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Down 2.1 %

Shares of Eaton stock traded down $7.81 on Thursday, reaching $361.85. The company had a trading volume of 1,816,815 shares, compared to its average volume of 2,112,224. The firm's 50-day moving average price is $332.81 and its two-hundred day moving average price is $320.84. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $373.49. The firm has a market cap of $143.00 billion, a price-to-earnings ratio of 39.35, a P/E/G ratio of 2.96 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, beating 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 business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm posted $2.47 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, research analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared 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 dividend yield of 1.04%. The ex-dividend date is Monday, November 4th. Eaton's dividend payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research analyst reports. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 target price on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $374.00 target price on shares of Eaton in a research report on Friday, November 1st. Wells Fargo & Company lifted their price target on Eaton from $315.00 to $342.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Morgan Stanley started coverage on shares of Eaton in a research note on Friday, September 6th. They set an "overweight" rating and a $370.00 target price on the stock. Finally, UBS Group assumed coverage on shares of Eaton in a research note on Wednesday. They issued a "buy" rating and a $431.00 target price on the stock. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $357.83.

Insider Buying and Selling at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now owns 2,205 shares of the company's stock, valued at $662,161.50. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The shares were acquired 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 in the company, valued at approximately $149,485. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 68,705 shares of company stock valued at $24,516,346 in the last quarter. 0.53% of the stock is owned by insiders.

About Eaton

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.