Raiffeisen Bank International AG Makes New Investment in Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Raiffeisen Bank International AG has acquired 1,500 shares of Eaton Corporation, PLC, valued at approximately $411,000, marking its entry as a new institutional investor in the company.
• Insider Craig Arnold sold 103,486 shares of Eaton, representing a 17.43% decrease in ownership, valued at over $33 million.
• Analysts have recently given Eaton a consensus rating of "Moderate Buy" with varying price targets, including a notable increase from $355.00 to $410.00 by KeyCorp.

Raiffeisen Bank International AG acquired a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,500 shares of the industrial products company's stock, valued at approximately $411,000.

A number of other large investors have also added to or reduced their stakes in the business. Checchi Capital Advisers LLC grew its position in Eaton by 0.7% in the first quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock worth $1,378,000 after buying an additional 37 shares during the last quarter. Lantern Wealth Advisors LLC boosted its stake in Eaton by 1.0% in the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock valued at $1,340,000 after acquiring an additional 38 shares during the last quarter. AGH Wealth Advisors LLC boosted its position in shares of Eaton by 2.6% during the first quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock worth $412,000 after purchasing an additional 38 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Eaton by 4.2% during the first quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock worth $259,000 after acquiring an additional 38 shares during the period. Finally, Tritonpoint Wealth LLC raised its holdings in shares of Eaton by 3.9% during the first quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company's stock worth $282,000 after acquiring an additional 39 shares during the period. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Eaton from $340.00 to $344.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Raymond James Financial increased their price objective on shares of Eaton from $380.00 to $415.00 and gave the stock an "outperform" rating in a research report on Thursday. BNP Paribas Exane initiated coverage on shares of Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Morgan Stanley raised their price target on shares of Eaton from $375.00 to $425.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $383.63.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider owned 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by company insiders.

Eaton Price Performance

NYSE:ETN traded up $2.91 during trading hours on Friday, hitting $363.07. The company's stock had a trading volume of 2,139,096 shares, compared to its average volume of 2,661,468. The business's 50-day moving average is $354.13 and its two-hundred day moving average is $318.34. The company has a market capitalization of $141.34 billion, a PE ratio of 36.53, a PEG ratio of 2.66 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.24. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $399.56.

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 the consensus estimate of $2.92 by $0.03. The company had revenue of $7.03 billion during the quarter, compared to analysts' expectations of $6.93 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%. The firm's revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.73 EPS. As a group, research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 7th. Eaton's dividend payout ratio (DPR) is 41.85%.

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.