New England Research & Management Inc. Makes New Investment in Eaton Co. plc (NYSE:ETN)

New England Research & Management Inc. bought a new position in Eaton Co. plc (NYSE:ETN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,344 shares of the industrial products company’s stock, valued at approximately $445,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LifeSteps Financial Inc. purchased a new stake in shares of Eaton in the first quarter worth approximately $25,000. Breakwater Investment Management lifted its position in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Atwood & Palmer Inc. lifted its position in shares of Eaton by 142.9% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares in the last quarter. Proffitt & Goodson Inc. purchased a new stake in shares of Eaton in the second quarter worth approximately $29,000. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Eaton in the second quarter worth approximately $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

ETN traded up $1.64 during trading on Monday, reaching $334.69. 1,465,860 shares of the company’s stock were exchanged, compared to its average volume of 2,155,702. 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 quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $303.32 and a 200 day moving average price of $314.79. The company has a market capitalization 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 posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. As a group, analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued 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 dividend yield of 1.12%. Eaton’s payout ratio is presently 44.39%.

Insider Buying and Selling at Eaton

In related news, Director Karenann K. Terrell acquired 500 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the acquisition, the director now owns 500 shares in the company, valued at $149,485. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business’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 transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karenann K. Terrell acquired 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. Over the last three months, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ETN has been the topic of several recent research reports. Evercore ISI cut their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Citigroup initiated coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Jefferies Financial Group raised their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Barclays raised their price objective on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Raymond James cut 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 equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $339.47.

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.