Thrivent Financial for Lutherans Raises Stock Position in Eaton Co. plc (NYSE:ETN)

Thrivent Financial for Lutherans increased its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 38.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,187 shares of the industrial products company's stock after buying an additional 22,367 shares during the period. Thrivent Financial for Lutherans' holdings in Eaton were worth $26,576,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. MQS Management LLC acquired a new position in Eaton in the first quarter valued at $207,000. Crewe Advisors LLC acquired a new position in Eaton in the first quarter valued at approximately $317,000. Vident Advisory LLC boosted its holdings in shares of Eaton by 13.3% during the 1st quarter. Vident Advisory LLC now owns 9,322 shares of the industrial products company's stock worth $2,915,000 after buying an additional 1,091 shares in the last quarter. CreativeOne Wealth LLC grew its position in shares of Eaton by 189.0% during the 1st quarter. CreativeOne Wealth LLC now owns 3,826 shares of the industrial products company's stock worth $1,196,000 after buying an additional 2,502 shares during the period. Finally, Freestone Capital Holdings LLC lifted its position in shares of Eaton by 7.6% during the 1st quarter. Freestone Capital Holdings LLC now owns 26,043 shares of the industrial products company's stock valued at $8,143,000 after acquiring an additional 1,848 shares during the period. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on ETN shares. UBS Group initiated coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $374.00 price objective on shares of Eaton in a report on Friday, November 1st. 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. Wolfe Research raised shares of Eaton from an "underperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Finally, Raymond James lowered their price objective on shares of Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a research report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $357.83.

Eaton Stock Performance

Shares of NYSE:ETN traded down $3.44 during midday trading on Wednesday, reaching $360.25. 999,578 shares of the company's stock traded hands, compared to its average volume of 2,104,507. 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 moving average of $338.69 and a 200 day moving average of $322.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a market cap of $142.37 billion, a price-to-earnings ratio of 38.44, a P/E/G ratio of 2.85 and a beta of 1.01.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.47 EPS. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal 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 paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Monday, November 4th. Eaton's payout ratio is 40.00%.

Insider Activity

In other news, insider Craig Arnold sold 61,569 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the company's stock in a transaction dated 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 transaction, the director now owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,705 shares of company stock worth $24,516,346. 0.33% of the stock is currently 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.