Eaton Co. plc (NYSE:ETN) Shares Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 801.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,000 shares of the industrial products company's stock after acquiring an additional 102,242 shares during the period. Polar Asset Management Partners Inc.'s holdings in Eaton were worth $38,165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ETN. Avior Wealth Management LLC grew its stake in Eaton by 7.7% during the 4th quarter. Avior Wealth Management LLC now owns 2,793 shares of the industrial products company's stock valued at $927,000 after purchasing an additional 199 shares during the last quarter. Secure Asset Management LLC increased its holdings in Eaton by 6.8% in the 4th quarter. Secure Asset Management LLC now owns 2,933 shares of the industrial products company's stock worth $973,000 after buying an additional 188 shares during the period. Veracity Capital LLC raised its position in Eaton by 26.3% during the 4th quarter. Veracity Capital LLC now owns 956 shares of the industrial products company's stock worth $317,000 after buying an additional 199 shares during the last quarter. Brighton Jones LLC lifted its stake in Eaton by 1.4% during the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after acquiring an additional 45 shares during the period. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Eaton by 22.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 2,108 shares of the industrial products company's stock worth $700,000 after acquiring an additional 385 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 2,120 shares of Eaton 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 transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the sale, the insider now owns 489,444 shares in the company, 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. Insiders have sold 156,660 shares of company stock worth $49,622,894 over the last three months. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent research reports. Citigroup upped their target price on Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. JPMorgan Chase & Co. increased their price target on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Morgan Stanley cut their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Barclays cut their price target on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Five 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $367.83.

Eaton Trading Down 1.5%

Shares of ETN traded down $4.85 during mid-day trading on Friday, reaching $319.96. The stock had a trading volume of 1,332,313 shares, compared to its average volume of 2,659,832. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The business's fifty day moving average is $292.89 and its 200 day moving average is $318.23. The firm has a market cap of $125.20 billion, a price-to-earnings ratio of 33.68, a P/E/G ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

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

Eaton Announces Dividend

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

About Eaton

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.