Eaton Corporation, PLC (NYSE:ETN) Stock Position Raised by Trillium Asset Management LLC

Key Points

• Trillium Asset Management LLC increased its stake in Eaton Corporation by 0.7%, owning a total of 143,438 shares worth approximately $38.99 million, making it the company's 26th largest position.
• Multiple brokerages have upgraded Eaton, with a consensus price target of $383.63 and a rating of "Moderate Buy" based on recent analyst reports.
• Eaton announced a quarterly dividend of $1.04 per share, reflecting an annualized yield of 1.2%, with a payout ratio of 41.85%.

Trillium Asset Management LLC boosted its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 143,438 shares of the industrial products company's stock after acquiring an additional 968 shares during the period. Eaton comprises approximately 1.1% of Trillium Asset Management LLC's holdings, making the stock its 26th biggest holding. Trillium Asset Management LLC's holdings in Eaton were worth $38,991,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Eaton by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 37,507,725 shares of the industrial products company's stock valued at $10,195,725,000 after buying an additional 289,819 shares during the period. Nuveen LLC purchased a new position in Eaton in the 1st quarter valued at about $1,472,231,000. Nuveen Asset Management LLC boosted its position in Eaton by 4.3% in the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock valued at $1,550,226,000 after buying an additional 192,482 shares during the last quarter. Northern Trust Corp boosted its position in Eaton by 8.8% in the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after buying an additional 368,241 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Eaton by 12.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,985,735 shares of the industrial products company's stock valued at $1,083,442,000 after buying an additional 427,509 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Price Performance

NYSE:ETN traded down $4.23 during trading hours on Friday, reaching $350.87. 1,859,580 shares of the company's stock were exchanged, compared to its average volume of 3,054,739. The company has a market capitalization of $136.59 billion, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $399.56. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The business's 50-day simple moving average is $357.73 and its two-hundred day simple moving average is $318.48.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.03. The firm had revenue of $7.03 billion during the quarter, compared to analysts' expectations of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $2.73 earnings per share. Sell-side analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, August 7th. Eaton's dividend payout ratio (DPR) is presently 41.85%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. BNP Paribas Exane assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. Sanford C. Bernstein reissued an "outperform" rating and issued a $396.00 price objective on shares of Eaton in a research report on Monday, July 14th. Wall Street Zen lowered shares of Eaton from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Raymond James Financial set a $415.00 target price on shares of Eaton and gave the company an "outperform" rating in a research note on Thursday, August 7th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $383.63.

Insiders Place Their Bets

In related news, insider Olivier Leonetti sold 16,018 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $358.39, for a total transaction of $5,740,691.02. Following the completion of the sale, the insider directly owned 630 shares in the company, valued at approximately $225,785.70. This trade represents a 96.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company's stock.

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.