Mmbg Investment Advisors CO. Raises Holdings in Eaton Corporation, PLC (NYSE:ETN)

Mmbg Investment Advisors CO. lifted its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 35.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,830 shares of the industrial products company's stock after acquiring an additional 4,390 shares during the period. Mmbg Investment Advisors CO.'s holdings in Eaton were worth $4,575,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Eaton by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after acquiring an additional 99,291 shares during the last quarter. FMR LLC lifted its holdings in shares of Eaton by 1.2% during the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock worth $5,051,807,000 after purchasing an additional 182,455 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Eaton by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock worth $2,714,677,000 after purchasing an additional 129,071 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Eaton by 4.3% during the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after purchasing an additional 192,482 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Eaton by 8.8% during the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after purchasing an additional 368,241 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Trading Up 1.6%

Shares of ETN stock opened at $353.74 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The company has a market cap of $138.42 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.74 and a beta of 1.16. The stock has a 50 day simple moving average of $318.04 and a 200-day simple moving average of $312.49. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the prior year, the company posted $2.40 EPS. The business's quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 41.98%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. JPMorgan Chase & Co. lifted their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays boosted their price target on Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a report on Monday, June 9th. Finally, BNP Paribas Exane initiated coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average target price of $368.78.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction on 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 directly owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction on 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 owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by corporate insiders.

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.

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