Korea Investment CORP Has $101.30 Million Holdings in Eaton Corporation, PLC $ETN

Key Points

• Korea Investment CORP has increased its stake in Eaton Corporation, PLC by 23.1%, now owning approximately $101.30 million worth, or about 0.10% of the company.
• Insider Olivier Leonetti sold 16,018 shares of Eaton at an average price of $358.39, significantly reducing his ownership by 96.22% to just 630 shares valued at approximately $225,785.
• The company recently declared a quarterly dividend of $1.04 per share, with an annualized yield of 1.2% and a payout ratio of 41.85%.

Korea Investment CORP boosted its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 23.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 372,668 shares of the industrial products company's stock after purchasing an additional 69,947 shares during the quarter. Korea Investment CORP owned about 0.10% of Eaton worth $101,302,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ETN. GAMMA Investing LLC lifted its stake in shares of Eaton by 0.7% in the first quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock valued at $3,593,000 after buying an additional 96 shares in the last quarter. Bearing Point Capital LLC bought a new position in shares of Eaton during the fourth quarter valued at about $2,713,000. Brighton Jones LLC lifted its position in shares of Eaton by 4.9% during the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock valued at $953,000 after purchasing an additional 164 shares in the last quarter. Kennebec Savings Bank lifted its position in shares of Eaton by 5.4% during the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock valued at $738,000 after purchasing an additional 139 shares in the last quarter. Finally, American National Bank & Trust lifted its position in shares of Eaton by 5.4% during the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock valued at $855,000 after purchasing an additional 162 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Olivier Leonetti sold 16,018 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $358.39, for a total transaction of $5,740,691.02. Following the completion of the sale, the insider directly owned 630 shares in the company, valued at $225,785.70. This represents a 96.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.30% of the stock is owned by corporate insiders.

Eaton Trading Down 1.2%

Shares of ETN opened at $350.87 on Monday. The firm has a market cap of $136.59 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 2.59 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 1.24. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $399.56. The firm has a 50 day moving average price of $358.11 and a 200-day moving average price of $318.70.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.03. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The company had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the business posted $2.73 EPS. The firm's revenue was up 10.7% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, August 7th. Eaton's dividend payout ratio is currently 41.85%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ETN shares. Evercore ISI raised their price target on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. BNP Paribas assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Eaton from $375.00 to $425.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Wells Fargo & Company lifted their price objective on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Finally, KeyCorp lifted their price objective on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $383.63.

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.

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