2,100 Shares in Eaton Corporation, PLC (NYSE:ETN) Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. acquired a new stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,100 shares of the industrial products company's stock, valued at approximately $571,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Suncoast Equity Management lifted its holdings in shares of Eaton by 2.4% during the first quarter. Suncoast Equity Management now owns 69,134 shares of the industrial products company's stock valued at $18,793,000 after purchasing an additional 1,631 shares during the last quarter. Weaver Capital Management LLC bought a new stake in Eaton in the first quarter worth $215,000. Deltec Asset Management LLC grew its stake in shares of Eaton by 146.3% in the first quarter. Deltec Asset Management LLC now owns 10,100 shares of the industrial products company's stock worth $2,745,000 after acquiring an additional 6,000 shares during the last quarter. World Equity Group Inc. increased its holdings in shares of Eaton by 51.8% during the first 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 in the last quarter. Finally, GAM Holding AG raised its position in shares of Eaton by 17.3% in the 1st quarter. GAM Holding AG now owns 11,755 shares of the industrial products company's stock worth $3,195,000 after purchasing an additional 1,733 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock worth $49,622,894 in the last three months. 0.30% of the stock is owned by company insiders.

Eaton Stock Performance

Eaton stock traded up $10.60 during midday trading on Tuesday, hitting $343.55. The stock had a trading volume of 2,977,646 shares, compared to its average volume of 2,657,115. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99. The company has a market capitalization of $134.43 billion, a PE ratio of 34.67, a P/E/G ratio of 2.58 and a beta of 1.16. The firm's fifty day moving average is $311.91 and its two-hundred day moving average is $312.55. 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 announced 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. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company's revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $2.40 EPS. On average, research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.21%. Eaton's dividend payout ratio is presently 41.98%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ETN shares. JPMorgan Chase & Co. raised their price objective on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. KeyCorp increased their target price on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Royal Bank Of Canada upped their price target on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Finally, BNP Paribas Exane started coverage on Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $368.78.

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.