BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 9,519 Shares of Eaton Co. plc (NYSE:ETN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 14.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,232 shares of the industrial products company's stock after buying an additional 9,519 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Eaton were worth $25,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new stake in Eaton during the 4th quarter worth about $27,000. Noble Wealth Management PBC purchased a new stake in shares of Eaton in the fourth quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton during the fourth quarter worth approximately $33,000. Activest Wealth Management boosted its holdings in shares of Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock worth $34,000 after purchasing an additional 87 shares during the period. Finally, Knuff & Co LLC purchased a new position in Eaton during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Stock Performance

Shares of ETN stock traded up $7.35 during trading on Tuesday, reaching $328.41. The company had a trading volume of 509,565 shares, compared to its average volume of 2,658,019. The firm's 50 day simple moving average is $291.21 and its two-hundred day simple moving average is $318.44. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market capitalization of $128.51 billion, a PE ratio of 34.59, a PEG ratio of 2.64 and a beta of 1.14.

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

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.27%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Analyst Ratings Changes

ETN has been the subject of a number of research analyst reports. KeyCorp increased their target price on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $355.00 price target on shares of Eaton in a research note on Monday, May 5th. Evercore ISI lifted their price objective on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. Finally, Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Eaton currently has an average rating of "Moderate Buy" and an average target price of $367.83.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the transaction, the insider now directly owns 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of the 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 in the last quarter. Insiders own 0.30% of the company's stock.

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.