USS Investment Management Ltd Buys 57,663 Shares of Eaton Co. plc (NYSE:ETN)

USS Investment Management Ltd raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 335.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,863 shares of the industrial products company's stock after buying an additional 57,663 shares during the quarter. USS Investment Management Ltd's holdings in Eaton were worth $24,854,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. increased its holdings in shares of Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock worth $1,029,000 after buying an additional 28 shares during the last quarter. Lantz Financial LLC raised its holdings in shares of Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock valued at $219,000 after buying an additional 30 shares during the period. Norden Group LLC raised its holdings in shares of Eaton by 3.4% in the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock valued at $325,000 after buying an additional 32 shares during the period. TFC Financial Management Inc. increased its holdings in Eaton by 4.7% during the 4th quarter. TFC Financial Management Inc. now owns 752 shares of the industrial products company's stock worth $250,000 after purchasing an additional 34 shares during the period. Finally, Nwam LLC increased its holdings in Eaton by 0.6% during the 4th quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock worth $1,764,000 after purchasing an additional 34 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 51,054 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the transaction, the insider now owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the firm's 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 sale, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. 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 ninety days. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ETN shares. Barclays dropped 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. Evercore ISI upped their target price on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday. KeyCorp upped their target price on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Wells Fargo & Company reissued an "overweight" rating and issued a $355.00 target price on shares of Eaton in a research report on Monday, May 5th. Finally, Jefferies Financial Group decreased their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and an average price target of $367.83.

Eaton Stock Up 0.1%

ETN opened at $329.34 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business has a 50 day simple moving average of $288.15 and a 200-day simple moving average of $319.43. The stock has a market capitalization of $128.87 billion, a P/E ratio of 34.67, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99.

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

Eaton Dividend Announcement

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

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.

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