Chesley Taft & Associates LLC Acquires 175 Shares of Eaton Co. plc (NYSE:ETN)

Chesley Taft & Associates LLC lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,563 shares of the industrial products company’s stock after buying an additional 175 shares during the period. Chesley Taft & Associates LLC’s holdings in Eaton were worth $3,170,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Breakwater Investment Management boosted its stake in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares in the last quarter. Atwood & Palmer Inc. lifted its stake in Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 50 shares during the last quarter. Proffitt & Goodson Inc. acquired a new stake in Eaton in the second quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Eaton during the first quarter worth $33,000. Finally, LGT Financial Advisors LLC acquired a new position in shares of Eaton during the second quarter worth $33,000. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Barclays boosted their price target on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Raymond James dropped their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Evercore ISI reduced their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Finally, Wells Fargo & Company raised their price target on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday. Four research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.47.

Eaton Trading Up 0.5 %

Shares of ETN stock opened at $334.69 on Tuesday. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The stock has a 50 day simple moving average of $303.32 and a two-hundred day simple moving average of $314.79. The company has a market cap of $133.81 billion, a P/E ratio of 39.51, a PEG ratio of 2.53 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 for the quarter, beating the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Research analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. Eaton’s dividend payout ratio is presently 44.39%.

Insider Activity at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Eaton 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 value of $96,721.20. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 in the last three months. Corporate insiders own 0.53% of the company’s stock.

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.