Eaton Co. plc (NYSE:ETN) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 62.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,688 shares of the industrial products company's stock after acquiring an additional 64,366 shares during the quarter. Mackenzie Financial Corp's holdings in Eaton were worth $55,651,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ETN. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton in the fourth quarter worth $27,000. Noble Wealth Management PBC purchased a new stake in shares of Eaton in the fourth quarter valued at $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Eaton in the fourth quarter valued at $33,000. Activest Wealth Management grew its position in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 87 shares during the period. Finally, Knuff & Co LLC purchased a new stake in shares of Eaton in the fourth quarter valued at $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company'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 now owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction that occurred on 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 sale, the insider now owns 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ETN shares. Citigroup lifted their price objective on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. KeyCorp lifted their price objective on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. BNP Paribas started 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. boosted their price target on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research report on Sunday, May 18th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $367.83.

Eaton Stock Down 2.2%

Shares of NYSE ETN traded down $7.15 on Friday, hitting $317.66. The company had a trading volume of 941,567 shares, compared to its average volume of 2,658,429. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The business has a 50 day moving average of $292.89 and a two-hundred day moving average of $318.23. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $124.30 billion, a P/E ratio of 33.42, a PEG ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the previous year, the firm posted $2.40 earnings per share. The company's revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio (DPR) is 41.98%.

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.