Tredje AP fonden Grows Stake in Eaton Corporation, PLC (NYSE:ETN)

Tredje AP fonden lifted its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 152.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 474,124 shares of the industrial products company's stock after acquiring an additional 286,662 shares during the period. Eaton accounts for 1.2% of Tredje AP fonden's portfolio, making the stock its 16th biggest holding. Tredje AP fonden owned about 0.12% of Eaton worth $128,881,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Eaton by 27,281.9% in the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after purchasing an additional 3,580,198 shares during the period. Capital International Investors bought a new position in shares of Eaton in the 4th quarter valued at approximately $523,541,000. Leigh Baldwin & CO. LLC acquired a new stake in Eaton in the 4th quarter valued at approximately $231,552,000. Janus Henderson Group PLC grew its holdings in Eaton by 24.3% in the 4th quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company's stock valued at $998,144,000 after buying an additional 588,370 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Eaton during the 4th quarter worth approximately $145,077,000. Institutional investors own 82.97% of the company's stock.

Eaton Price Performance

NYSE ETN traded down $3.20 during trading on Friday, reaching $381.52. The company's stock had a trading volume of 2,416,712 shares, compared to its average volume of 3,052,825. The stock has a market capitalization of $149.29 billion, a PE ratio of 38.50, a P/E/G ratio of 2.94 and a beta of 1.17. 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 firm has a fifty day moving average of $349.71 and a 200 day moving average of $317.50. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $399.56.

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 for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the business posted $2.40 earnings per share. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders 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 yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton's payout ratio is presently 41.98%.

Insider Activity at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the business'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 value of $629,364.40. Following the sale, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the transaction, the insider directly owned 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ETN shares. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. JPMorgan Chase & Co. boosted their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. BNP Paribas Exane began coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. KeyCorp lifted their price objective on Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Barclays increased their price target on Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Six 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 stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $377.89.

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.