Good Life Advisors LLC Buys 895 Shares of Eaton Co. plc (NYSE:ETN)

Good Life Advisors LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 46.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,839 shares of the industrial products company’s stock after purchasing an additional 895 shares during the period. Good Life Advisors LLC’s holdings in Eaton were worth $941,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Breakwater Investment Management lifted its stake in Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. acquired a new stake in Eaton in the 2nd quarter valued at about $29,000. Redmont Wealth Advisors LLC bought a new position in Eaton during the first quarter worth about $33,000. LGT Financial Advisors LLC acquired a new position in Eaton during the second quarter worth approximately $33,000. Finally, West Financial Advisors LLC bought a new stake in Eaton in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 in the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Citigroup started coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Raymond James cut their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Jefferies Financial Group lifted their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Eaton Stock Up 2.1 %

Shares of NYSE ETN opened at $348.33 on Friday. The stock has a 50-day moving average price of $312.88 and a two-hundred day moving average price of $316.41. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $349.74. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market cap of $139.26 billion, a price-to-earnings ratio of 41.13, a PEG ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. As a group, analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Eaton’s dividend payout ratio is currently 44.39%.

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.