Temasek Holdings Private Ltd Grows Position in Eaton Co. plc (NYSE:ETN)

Temasek Holdings Private Ltd raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 21.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,143 shares of the industrial products company's stock after purchasing an additional 28,515 shares during the quarter. Temasek Holdings Private Ltd's holdings in Eaton were worth $53,147,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ETN. Lighthouse Wealth Management Inc. purchased a new position in Eaton during the 4th quarter valued at $297,000. Bearing Point Capital LLC bought a new stake in shares of Eaton during the fourth quarter worth $2,713,000. Webster Bank N. A. boosted its stake in shares of Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock valued at $5,949,000 after purchasing an additional 6,166 shares during the period. Ballentine Partners LLC boosted its stake in shares of Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock valued at $3,072,000 after purchasing an additional 790 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock worth $4,804,000 after purchasing an additional 1,694 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ETN shares. KeyCorp lifted their price objective on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $355.00 price target on shares of Eaton in a research note on Monday, May 5th. Citigroup boosted their price target on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday, May 5th. Barclays reduced their price objective on Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Finally, BNP Paribas began coverage on Eaton in a research report on Thursday. They set an "outperform" rating and a $380.00 target price for the company. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and a consensus price target of $366.56.

Eaton Stock Performance

Shares of Eaton stock opened at $329.40 on Friday. The company has a market capitalization of $128.89 billion, a PE ratio of 34.67, a P/E/G ratio of 2.64 and a beta of 1.14. The company has a 50-day simple moving average of $287.40 and a two-hundred day simple moving average of $319.55. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data 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 net margin of 15.25% and a return on equity of 22.62%. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the previous year, the business posted $2.40 EPS. Eaton's revenue was up 7.3% on a year-over-year basis. Research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.26%. Eaton's dividend payout ratio is presently 41.98%.

Insider Transactions at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were 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 owns 3,382 shares of the company's stock, 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 filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $33,400,106.50. Following the sale, the insider now owns 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 in the last quarter. 0.30% of the stock is currently owned by corporate insiders.

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.

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