World Investment Advisors LLC Has $16.67 Million Stake in Eaton Co. plc (NYSE:ETN)

World Investment Advisors LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 981.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,303 shares of the industrial products company's stock after acquiring an additional 45,652 shares during the quarter. World Investment Advisors LLC's holdings in Eaton were worth $16,672,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its holdings in Eaton by 32.1% in the third quarter. Sanctuary Advisors LLC now owns 112,621 shares of the industrial products company's stock valued at $37,327,000 after buying an additional 27,351 shares during the last quarter. Tudor Financial Inc. bought a new stake in shares of Eaton in the 3rd quarter valued at approximately $265,000. Chelsea Counsel Co. raised its position in shares of Eaton by 29.4% during the 3rd 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 lifted its stake in 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 last quarter. Finally, Bard Financial Services Inc. acquired a new position in Eaton in the third quarter worth $255,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Price Performance

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

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company's revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.47 earnings per share. Sell-side analysts predict that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

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. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.05%. Eaton's dividend payout ratio is currently 40.00%.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,981 shares of company stock worth $24,100,317 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ETN shares. Barclays raised their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Jefferies Financial Group lifted their target price on Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Evercore ISI lowered Eaton from an "outperform" rating to an "inline" rating and boosted their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Finally, Wolfe Research raised Eaton from an "underperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $367.83.

Eaton Company 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.