KPP Advisory Services LLC Buys 996 Shares of Eaton Co. plc (NYSE:ETN)

by · The Markets Daily

KPP Advisory Services LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 128.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,773 shares of the industrial products company’s stock after acquiring an additional 996 shares during the quarter. KPP Advisory Services LLC’s holdings in Eaton were worth $588,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Capital World Investors boosted its stake in Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after acquiring an additional 1,070,024 shares in the last quarter. Swedbank AB bought a new position in shares of Eaton during the 2nd quarter valued at approximately $225,974,000. Assenagon Asset Management S.A. grew its holdings in shares of Eaton by 1,604.4% in the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after purchasing an additional 634,059 shares in the last quarter. Finally, Wulff Hansen & CO. increased its position in Eaton by 31,255.0% in the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after purchasing an additional 476,639 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Down 0.8 %

Shares of Eaton stock traded down $2.87 on Friday, hitting $358.99. 2,232,026 shares of the company traded hands, compared to its average volume of 2,112,767. Eaton Co. plc has a 52 week low of $224.52 and a 52 week high of $373.49. The company has a market cap of $141.87 billion, a PE ratio of 38.19, a PEG ratio of 2.96 and a beta of 1.01. The stock’s 50 day moving average price is $335.82 and its 200-day moving average price is $321.35. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN – Get Free Report) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the business earned $2.47 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts predict that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Dividend Announcement

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 issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 40.00%.

Analysts Set New Price Targets

Several equities analysts have commented on ETN shares. Raymond James lowered their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Morgan Stanley started coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company raised their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $357.83.

Read Our Latest Report on ETN

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,705 shares of company stock valued at $24,516,346. Company insiders own 0.53% of the company’s stock.

Eaton Profile

(Free Report)

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.

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