Commerzbank Aktiengesellschaft FI Buys 1,179 Shares of Eaton Corporation, PLC (NYSE:ETN)

Commerzbank Aktiengesellschaft FI lifted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,321 shares of the industrial products company's stock after purchasing an additional 1,179 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Eaton were worth $1,447,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of ETN. Norges Bank purchased a new stake in Eaton in the 4th quarter worth about $1,495,582,000. GAMMA Investing LLC grew its holdings in shares of Eaton by 27,281.9% during the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock worth $976,772,000 after purchasing an additional 3,580,198 shares in the last quarter. Capital International Investors acquired a new stake in Eaton in the 4th quarter valued at $523,541,000. Leigh Baldwin & CO. LLC bought a new position in Eaton in the 4th quarter valued at $231,552,000. Finally, Janus Henderson Group PLC raised its position in shares of Eaton by 24.3% during the fourth quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company's stock worth $998,144,000 after acquiring an additional 588,370 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ETN shares. Wells Fargo & Company upped their price objective on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. The Goldman Sachs Group raised their price objective on Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Citigroup boosted their price objective on Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $396.00 price target on shares of Eaton in a research report on Monday, July 14th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Eaton presently has a consensus rating of "Moderate Buy" and an average target price of $377.89.

Insiders Place Their Bets

In other news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated 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 owned 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the transaction, the insider owned 490,208 shares of the company's stock, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. 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. 0.30% of the stock is currently owned by company insiders.

Eaton Stock Down 0.5%

Shares of ETN traded down $1.83 during mid-day trading on Friday, reaching $378.89. The company had a trading volume of 2,941,019 shares, compared to its average volume of 2,666,753. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The firm has a 50-day moving average price of $339.29 and a 200 day moving average price of $314.81. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $384.51. The company has a market capitalization of $148.26 billion, a price-to-earnings ratio of 38.23, a price-to-earnings-growth ratio of 2.87 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.40 EPS. On average, sell-side analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.10%. Eaton's payout ratio is presently 41.98%.

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.