Lansforsakringar Fondforvaltning AB publ Purchases Shares of 149,122 Eaton Co. plc (NYSE:ETN)

Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 149,122 shares of the industrial products company's stock, valued at approximately $49,489,000.

A number of other hedge funds have also bought and sold shares of ETN. Brighton Jones LLC lifted its holdings in Eaton by 1.4% during the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after acquiring an additional 45 shares during the period. KBC Group NV raised its stake in shares of Eaton by 16.2% in the fourth quarter. KBC Group NV now owns 66,296 shares of the industrial products company's stock valued at $22,002,000 after buying an additional 9,252 shares during the period. Pacer Advisors Inc. raised its stake in shares of Eaton by 7.1% in the fourth quarter. Pacer Advisors Inc. now owns 31,622 shares of the industrial products company's stock valued at $10,494,000 after buying an additional 2,110 shares during the period. Mount Yale Investment Advisors LLC raised its stake in shares of Eaton by 1.6% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 2,999 shares of the industrial products company's stock valued at $995,000 after buying an additional 46 shares during the period. Finally, Foundations Investment Advisors LLC raised its stake in shares of Eaton by 105.6% in the fourth quarter. Foundations Investment Advisors LLC now owns 3,763 shares of the industrial products company's stock valued at $1,249,000 after buying an additional 1,933 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction dated 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 sale, the insider now owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Craig Arnold sold 51,054 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the sale, the insider now directly owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. This trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

Eaton Price Performance

Eaton stock traded down $4.46 during midday trading on Friday, hitting $320.35. 3,787,956 shares of the company's stock were exchanged, compared to its average volume of 2,675,021. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The stock has a 50-day moving average price of $293.29 and a two-hundred day moving average price of $317.89. 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 company has a market cap of $125.35 billion, a P/E ratio of 33.72, a PEG ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $6.26 billion. During the same period in the prior year, the business earned $2.40 EPS. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is currently 41.98%.

Analysts Set New Price Targets

ETN has been the topic of several research reports. Evercore ISI boosted their target price on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. BNP Paribas initiated coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price on the stock. Citigroup boosted their target price on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. boosted their target price on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, Jefferies Financial Group decreased their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Eaton has an average rating of "Moderate Buy" and an average price target of $367.83.

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.