HL Financial Services LLC raised its stake in shares of Eaton Co. PLC (NYSE:ETN) by 22.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 16,506 shares of the industrial products company’s stock after purchasing an additional 2,998 shares during the period. HL Financial Services LLC’s holdings in Eaton were worth $1,432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Architects Inc boosted its stake in shares of Eaton by 2,675.0% in the 3rd quarter. Financial Architects Inc now owns 1,221 shares of the industrial products company’s stock worth $106,000 after buying an additional 1,177 shares during the last quarter. Reilly Financial Advisors LLC boosted its stake in shares of Eaton by 145.3% in the 3rd quarter. Reilly Financial Advisors LLC now owns 1,266 shares of the industrial products company’s stock worth $110,000 after buying an additional 750 shares during the last quarter. Zions Bancorporation purchased a new position in shares of Eaton in the 2nd quarter worth approximately $113,000. Fort L.P. purchased a new position in shares of Eaton in the 2nd quarter worth approximately $116,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Eaton in the 2nd quarter worth approximately $123,000. Hedge funds and other institutional investors own 77.29% of the company’s stock.

NYSE:ETN opened at $73.43 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $32.18 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.35 and a beta of 1.49. Eaton Co. PLC has a 12 month low of $67.70 and a 12 month high of $89.85.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $1.43 EPS for the quarter, hitting analysts’ consensus estimates of $1.43. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.49 billion. Eaton had a net margin of 10.06% and a return on equity of 13.48%. Eaton’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. As a group, sell-side analysts expect that Eaton Co. PLC will post 5.35 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be issued a $0.66 dividend. The ex-dividend date is Thursday, November 1st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.60%. Eaton’s dividend payout ratio (DPR) is presently 56.77%.

In related news, insider Richard H. Fearon sold 25,000 shares of Eaton stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $83.29, for a total value of $2,082,250.00. Following the sale, the insider now owns 221,459 shares of the company’s stock, valued at approximately $18,445,320.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ken D. Semelsberger sold 11,500 shares of Eaton stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $86.57, for a total transaction of $995,555.00. Following the completion of the sale, the insider now directly owns 78,883 shares in the company, valued at approximately $6,828,901.31. The disclosure for this sale can be found here. Insiders sold a total of 55,000 shares of company stock worth $4,617,645 in the last ninety days. 0.50% of the stock is currently owned by insiders.

A number of brokerages have recently weighed in on ETN. ValuEngine upgraded Eaton from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Barclays boosted their target price on Eaton from $71.00 to $77.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 1st. Wells Fargo & Co set a $92.00 target price on Eaton and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research downgraded Eaton from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, UBS Group set a $97.00 target price on Eaton and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. Eaton presently has a consensus rating of “Buy” and an average target price of $86.12.

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Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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