Deutsche Bank AG Increases Position in Eaton Co. plc (NYSE:ETN)

Deutsche Bank AG increased its position in Eaton Co. plc (NYSE:ETN - Free Report) by 18.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,554,271 shares of the industrial products company's stock after purchasing an additional 239,839 shares during the quarter. Deutsche Bank AG owned approximately 0.39% of Eaton worth $515,816,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in shares of Eaton by 4.1% in the third quarter. Principal Financial Group Inc. now owns 457,350 shares of the industrial products company's stock valued at $151,584,000 after purchasing an additional 17,965 shares during the period. Regent Peak Wealth Advisors LLC acquired a new stake in Eaton during the fourth quarter worth approximately $532,000. Park National Corp OH boosted its holdings in shares of Eaton by 2.1% during the fourth quarter. Park National Corp OH now owns 2,779 shares of the industrial products company's stock worth $922,000 after acquiring an additional 58 shares during the period. Fulton Bank N.A. increased its stake in shares of Eaton by 36.9% during the fourth quarter. Fulton Bank N.A. now owns 7,117 shares of the industrial products company's stock worth $2,362,000 after purchasing an additional 1,917 shares during the period. Finally, ORG Partners LLC lifted its holdings in Eaton by 90.7% during the 4th quarter. ORG Partners LLC now owns 946 shares of the industrial products company's stock worth $314,000 after purchasing an additional 450 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Price Performance

Shares of NYSE ETN traded up $9.66 during mid-day trading on Tuesday, reaching $331.75. 1,869,586 shares of the company were exchanged, compared to its average volume of 2,648,726. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The stock has a market capitalization of $129.81 billion, a PE ratio of 34.92, a PEG ratio of 2.64 and a beta of 1.14. The company's 50 day moving average price is $283.50 and its 200 day moving average price is $319.80. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.40 EPS. Sell-side analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.25%. Eaton's dividend payout ratio (DPR) is 41.98%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ETN shares. Jefferies Financial Group decreased their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley cut their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped their target price on Eaton from $289.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Wells Fargo & Company reissued an "overweight" rating and set a $355.00 price target on shares of Eaton in a report on Monday, May 5th. Finally, KeyCorp lifted their target price on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and a consensus price target of $361.13.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 51,054 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the transaction, the insider now directly owns 489,444 shares in the company, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction 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. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by 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.