Eaton Co. PLC (NYSE:ETN) Stock Holdings Raised by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC raised its stake in Eaton Co. PLC (NYSE:ETN) by 8.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,910 shares of the industrial products company’s stock after purchasing an additional 379 shares during the period. AlphaStar Capital Management LLC’s holdings in Eaton were worth $530,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. APG Asset Management N.V. boosted its holdings in shares of Eaton by 39.8% during the 1st quarter. APG Asset Management N.V. now owns 990,237 shares of the industrial products company’s stock worth $76,932,000 after buying an additional 281,686 shares during the period. Fulton Bank N. A. grew its holdings in Eaton by 29.1% during the 2nd quarter. Fulton Bank N. A. now owns 7,908 shares of the industrial products company’s stock worth $692,000 after acquiring an additional 1,784 shares during the last quarter. Private Trust Co. NA grew its holdings in Eaton by 10.3% during the 2nd quarter. Private Trust Co. NA now owns 6,049 shares of the industrial products company’s stock worth $537,000 after acquiring an additional 566 shares during the last quarter. Platte River Wealth Advisors LLC bought a new stake in Eaton during the 2nd quarter worth about $617,000. Finally, Starfire Investment Advisers Inc. bought a new stake in Eaton during the 2nd quarter worth about $612,000. 77.55% of the stock is owned by institutional investors.

A number of equities research analysts have commented on the stock. Berenberg Bank assumed coverage on shares of Eaton in a report on Thursday, August 20th. They set a “hold” rating and a $110.00 price objective on the stock. Oppenheimer reissued a “buy” rating and set a $100.00 price objective on shares of Eaton in a report on Friday, July 31st. Citigroup raised their target price on shares of Eaton from $106.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, October 16th. Royal Bank of Canada raised their target price on shares of Eaton from $81.00 to $87.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Finally, Credit Suisse Group raised their target price on shares of Eaton from $94.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Eaton presently has an average rating of “Buy” and an average price target of $100.12.

In related news, insider Sternadt Paulo Ruiz sold 3,047 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $103.42, for a total value of $315,120.74. Also, insider Richard H. Fearon sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $101.98, for a total value of $5,099,000.00. Following the completion of the sale, the insider now owns 150,384 shares in the company, valued at $15,336,160.32. The disclosure for this sale can be found here. Insiders sold 93,597 shares of company stock worth $9,550,626 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Shares of Eaton stock traded down $0.43 on Friday, hitting $103.79. The stock had a trading volume of 1,494,490 shares, compared to its average volume of 2,426,559. The stock has a 50 day moving average of $104.68 and a 200 day moving average of $93.11. Eaton Co. PLC has a twelve month low of $56.42 and a twelve month high of $111.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.50. The firm has a market capitalization of $41.53 billion, a P/E ratio of 27.83, a PEG ratio of 2.49 and a beta of 1.12.

Eaton (NYSE:ETN) last released its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.17. Eaton had a return on equity of 12.73% and a net margin of 8.03%. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the firm posted $1.53 earnings per share. The firm’s revenue was down 29.5% compared to the same quarter last year. Equities analysts expect that Eaton Co. PLC will post 3.94 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, November 5th. Eaton’s payout ratio is presently 51.50%.

Eaton Company 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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