Impax Asset Management Group plc Buys 8,132 Shares of Eaton Corporation, PLC (NYSE:ETN)

Impax Asset Management Group plc lifted its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 126.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,539 shares of the industrial products company's stock after purchasing an additional 8,132 shares during the period. Impax Asset Management Group plc's holdings in Eaton were worth $3,952,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ETN. Brighton Jones LLC lifted its position in shares of Eaton by 1.4% in the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after acquiring an additional 45 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock valued at $303,000 after purchasing an additional 136 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Eaton in the fourth quarter worth $42,839,000. Proficio Capital Partners LLC grew its holdings in shares of Eaton by 27.6% during the fourth quarter. Proficio Capital Partners LLC now owns 2,207 shares of the industrial products company's stock valued at $732,000 after buying an additional 478 shares in the last quarter. Finally, Welch & Forbes LLC raised its position in Eaton by 29.1% during the fourth quarter. Welch & Forbes LLC now owns 3,567 shares of the industrial products company's stock valued at $1,184,000 after buying an additional 803 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Down 1.0%

NYSE:ETN traded down $3.55 on Monday, hitting $358.67. 1,800,538 shares of the stock were exchanged, compared to its average volume of 2,665,214. The stock has a market capitalization of $140.35 billion, a price-to-earnings ratio of 36.19, a P/E/G ratio of 2.73 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. The company's 50-day moving average price is $326.36 and its 200 day moving average price is $312.63.

Eaton (NYSE:ETN - Get Free Report) last announced 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. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period in the prior year, the business posted $2.40 earnings per share. Eaton's revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts forecast 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. Investors of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 41.98%.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Wells Fargo & Company upped their price target on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Barclays lifted their price objective on Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. raised their price target on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Morgan Stanley lowered their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $369.06.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider owned 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction that occurred 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 sale, 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 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 three months. 0.30% of the stock is owned by company insiders.

Eaton Company 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.