Thurston Springer Miller Herd & Titak Inc. Acquires 2,386 Shares of Eaton Co. plc (NYSE:ETN)

Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 37.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,744 shares of the industrial products company's stock after purchasing an additional 2,386 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Eaton were worth $2,902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ETN. Geode Capital Management LLC boosted its position in Eaton by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company's stock valued at $2,665,342,000 after acquiring an additional 56,516 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Eaton by 0.6% during the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company's stock valued at $1,005,317,000 after purchasing an additional 18,077 shares in the last quarter. Franklin Resources Inc. grew its stake in Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company's stock worth $836,938,000 after purchasing an additional 316,830 shares during the period. Janus Henderson Group PLC raised its holdings 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 worth $801,798,000 after purchasing an additional 597,700 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eaton by 253.2% during the third 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 buying an additional 1,629,856 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ETN. 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 note on Friday, November 1st. Evercore ISI lowered shares of Eaton from an "outperform" rating to an "inline" rating and lifted their target price for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Barclays raised their price objective on Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Wells Fargo & Company dropped their target price on Eaton from $365.00 to $350.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Finally, Sanford C. Bernstein assumed 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 research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $368.89.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company's stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares of the company's stock, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is owned by insiders.

Eaton Stock Performance

NYSE:ETN traded up $2.21 during trading hours on Wednesday, reaching $342.35. The company had a trading volume of 3,434,212 shares, compared to its average volume of 2,500,182. The firm has a market cap of $135.30 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 2.70 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm's 50 day moving average price is $355.38 and its 200-day moving average price is $329.33. Eaton Co. plc has a 52 week low of $236.04 and a 52 week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping 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 company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the company posted $2.47 earnings per share. Eaton's revenue was up 7.9% compared to the same quarter last year. On average, analysts forecast that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Monday, November 4th. Eaton's dividend payout ratio (DPR) 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.