Mufg Securities Americas Inc. purchased a new stake in Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,835 shares of the industrial products company's stock, valued at approximately $1,936,000.
Several other large investors have also recently bought and sold shares of the stock. Nissay Asset Management Corp Japan ADV raised its holdings in Eaton by 14.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 238,349 shares of the industrial products company's stock valued at $79,759,000 after acquiring an additional 30,359 shares during the period. NorthRock Partners LLC lifted its holdings in shares of Eaton by 136.6% during the fourth quarter. NorthRock Partners LLC now owns 3,998 shares of the industrial products company's stock worth $1,327,000 after buying an additional 2,308 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Eaton by 4.3% during the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after buying an additional 192,482 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in shares of Eaton by 17.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,101 shares of the industrial products company's stock worth $5,675,000 after buying an additional 2,529 shares in the last quarter. Finally, Obermeyer Wealth Partners lifted its holdings in shares of Eaton by 1.4% during the fourth quarter. Obermeyer Wealth Partners now owns 9,468 shares of the industrial products company's stock worth $3,142,000 after buying an additional 127 shares in the last quarter. 82.97% of the stock is owned by institutional investors.
Insider Activity
In other news, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the transaction, the insider now owns 489,444 shares of the company's stock, valued at $149,490,880.92. This represents a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 over the last quarter. 0.30% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on ETN. Citigroup lifted their target price on Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. lifted their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday. Barclays dropped their target price on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Evercore ISI dropped their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Finally, Jefferies Financial Group cut their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and a consensus target price of $366.56.
Get Our Latest Stock Report on Eaton
Eaton Price Performance
NYSE ETN traded up $2.58 during trading on Friday, hitting $329.40. 1,997,137 shares of the company's stock were exchanged, compared to its average volume of 2,660,386. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market cap of $128.89 billion, a PE ratio of 34.67, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The stock's 50 day moving average price is $287.40 and its two-hundred day moving average price is $319.71.
Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.40 earnings per share. Research analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.
Eaton Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio is currently 41.98%.
About Eaton
(
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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