Eaton Co. plc (NYSE:ETN) Shares Bought by Compagnie Lombard Odier SCmA

Compagnie Lombard Odier SCmA lifted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 19.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,269 shares of the industrial products company's stock after purchasing an additional 34,086 shares during the period. Compagnie Lombard Odier SCmA owned 0.05% of Eaton worth $56,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ETN. Norges Bank bought a new stake in Eaton during the fourth quarter valued at about $1,495,582,000. GAMMA Investing LLC grew its holdings in Eaton by 27,281.9% during the first quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after purchasing an additional 3,580,198 shares during the period. Capital International Investors bought a new stake in Eaton during the fourth quarter valued at about $523,541,000. Proficio Capital Partners LLC grew its holdings in Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock valued at $243,036,000 after purchasing an additional 730,594 shares during the period. Finally, Leigh Baldwin & CO. LLC bought a new stake in Eaton during the fourth quarter valued at about $231,552,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ETN shares. 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. BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Morgan Stanley lowered their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Evercore ISI boosted 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. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eaton has an average rating of "Moderate Buy" and a consensus target price of $368.78.

Eaton Stock Down 2.1%

Eaton stock traded down $7.08 during mid-day trading on Friday, reaching $323.26. 1,565,268 shares of the company were exchanged, compared to its average volume of 2,643,441. The business has a fifty day moving average of $304.79 and a 200 day moving average of $314.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market cap of $126.49 billion, a P/E ratio of 34.03, a PEG ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the business posted $2.40 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.29%. Eaton's dividend payout ratio is presently 41.98%.

Insider Activity

In related news, insider Craig Arnold sold 51,054 shares of the firm's stock in a transaction 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 in the company, valued at $149,490,880.92. This trade represents a 9.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was 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 owns 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,660 shares of company stock worth $49,622,894. 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.