Bruderman Asset Management LLC increased its holdings in shares of Eaton Co. PLC (NYSE:ETN) by 9,618.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,455 shares of the industrial products company’s stock after buying an additional 39,049 shares during the quarter. Bruderman Asset Management LLC’s holdings in Eaton were worth $3,422,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ETN. LSV Asset Management lifted its position in shares of Eaton by 310.2% during the 3rd quarter. LSV Asset Management now owns 5,085,523 shares of the industrial products company’s stock worth $441,067,000 after buying an additional 3,845,813 shares during the last quarter. Sound Shore Management Inc. CT bought a new stake in shares of Eaton during the 2nd quarter worth $122,069,000. American Century Companies Inc. lifted its position in shares of Eaton by 57.8% during the 2nd quarter. American Century Companies Inc. now owns 3,531,120 shares of the industrial products company’s stock worth $263,916,000 after buying an additional 1,293,143 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Eaton during the 3rd quarter worth $89,715,000. Finally, Epoch Investment Partners Inc. lifted its position in shares of Eaton by 29.3% during the 2nd quarter. Epoch Investment Partners Inc. now owns 3,039,776 shares of the industrial products company’s stock worth $227,193,000 after buying an additional 688,549 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

In other news, insider Ken D. Semelsberger sold 11,500 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $86.57, for a total value of $995,555.00. Following the completion of the sale, the insider now owns 78,883 shares of the company’s stock, valued at $6,828,901.31. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Deborah L. Mccoy sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $84.55, for a total value of $253,650.00. Following the sale, the director now directly owns 32,936 shares of the company’s stock, valued at approximately $2,784,738.80. The disclosure for this sale can be found here. In the last three months, insiders sold 55,000 shares of company stock valued at $4,617,645. Insiders own 0.50% of the company’s stock.

Several equities analysts have commented on ETN shares. Deutsche Bank increased their target price on Eaton from $92.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Zacks Investment Research upgraded Eaton from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Monday, August 6th. Wells Fargo & Co set a $92.00 target price on Eaton and gave the company a “buy” rating in a research report on Wednesday, August 1st. UBS Group upgraded Eaton from a “neutral” rating to a “buy” rating and increased their target price for the company from $91.00 to $100.00 in a research report on Friday, September 21st. Finally, Citigroup dropped their target price on Eaton from $92.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $86.67.

Shares of ETN stock opened at $74.08 on Thursday. The stock has a market capitalization of $31.62 billion, a PE ratio of 14.00, a P/E/G ratio of 1.33 and a beta of 1.49. The company has a quick ratio of 0.96, a current ratio of 1.49 and a debt-to-equity ratio of 0.40. Eaton Co. PLC has a 1-year low of $67.70 and a 1-year high of $89.85.

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

The business also recently declared a quarterly dividend, which was paid on Friday, November 16th. Stockholders of record on Friday, November 2nd were paid a $0.66 dividend. The ex-dividend date was Thursday, November 1st. This represents a $2.64 annualized dividend and a dividend yield of 3.56%. Eaton’s payout ratio is 56.77%.

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About Eaton

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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