Deltec Asset Management LLC raised its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 146.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,100 shares of the industrial products company's stock after acquiring an additional 6,000 shares during the quarter. Deltec Asset Management LLC's holdings in Eaton were worth $2,745,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. World Equity Group Inc. raised its position in shares of Eaton by 51.8% during the 1st quarter. World Equity Group Inc. now owns 4,090 shares of the industrial products company's stock valued at $1,115,000 after acquiring an additional 1,395 shares during the last quarter. GAM Holding AG lifted its holdings in shares of Eaton by 17.3% during the 1st quarter. GAM Holding AG now owns 11,755 shares of the industrial products company's stock valued at $3,195,000 after purchasing an additional 1,733 shares in the last quarter. Stonegate Investment Group LLC grew its position in shares of Eaton by 4.3% in the 1st quarter. Stonegate Investment Group LLC now owns 5,326 shares of the industrial products company's stock valued at $1,448,000 after purchasing an additional 221 shares during the period. Mayport LLC bought a new stake in Eaton during the 1st quarter worth approximately $287,000. Finally, Castleview Partners LLC raised its holdings in Eaton by 664.8% during the 1st quarter. Castleview Partners LLC now owns 5,132 shares of the industrial products company's stock worth $1,395,000 after buying an additional 4,461 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Eaton
In other Eaton news, insider Craig Arnold sold 103,486 shares of the company'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 completion of the sale, the insider now directly owns 490,208 shares of the company's stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now owns 3,382 shares in the company, valued at approximately $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 have sold a total of 156,660 shares of company stock worth $49,622,894 over the last quarter. Company insiders own 0.30% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. KeyCorp increased their price objective 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. BNP Paribas initiated coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. JPMorgan Chase & Co. raised their price target on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Evercore ISI increased their price target on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $355.00 price objective on shares of Eaton in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $368.78.
View Our Latest Report on Eaton
Eaton Price Performance
NYSE ETN traded down $3.52 on Friday, hitting $331.34. 4,406,960 shares of the company's stock were exchanged, compared to its average volume of 2,656,564. The stock has a 50-day moving average of $310.79 and a 200-day moving average of $313.22. The stock has a market cap of $129.65 billion, a price-to-earnings ratio of 33.43, a P/E/G ratio of 2.57 and a beta of 1.16. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.
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 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 analyst estimates of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. Eaton's revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $2.40 earnings per share. Analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.
Eaton Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was 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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