GHP Investment Advisors Inc. Has $230,000 Stock Position in Eaton Co. plc (NYSE:ETN)

GHP Investment Advisors Inc. raised its stake in Eaton Co. plc (NYSE:ETN) by 12.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 694 shares of the industrial products company’s stock after purchasing an additional 75 shares during the period. GHP Investment Advisors Inc.’s holdings in Eaton were worth $230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ETN. Norden Group LLC bought a new position in Eaton during the first quarter valued at about $2,176,000. IAM Advisory LLC acquired a new position in shares of Eaton in the second quarter valued at $599,000. Envestnet Portfolio Solutions Inc. lifted its position in Eaton by 19.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock worth $24,616,000 after purchasing an additional 12,689 shares during the period. Interval Partners LP boosted its stake in Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after buying an additional 68,693 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Eaton by 302.4% during the first quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock worth $7,277,000 after buying an additional 17,490 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on ETN. Citigroup initiated coverage on shares of Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Evercore ISI decreased their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Barclays upped their price objective on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada lowered their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $340.06.

Eaton Trading Down 0.2 %

Shares of NYSE ETN opened at $344.49 on Monday. Eaton Co. plc has a 1-year low of $193.77 and a 1-year high of $349.74. The company has a 50-day moving average of $318.89 and a two-hundred day moving average of $317.49. The company has a market cap of $137.14 billion, a PE ratio of 37.90, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44.

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

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Eaton’s payout ratio is presently 41.36%.

Insider Transactions at Eaton

In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction 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 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 disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 in the last quarter. 0.53% of the stock is owned by company insiders.

Eaton 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.