Worldquant Millennium Advisors LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

Worldquant Millennium Advisors LLC grew its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 166.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,363 shares of the industrial products company's stock after purchasing an additional 12,100 shares during the period. Worldquant Millennium Advisors LLC's holdings in Eaton were worth $6,426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETN. Diversify Advisory Services LLC increased its holdings in Eaton by 45.1% in the fourth quarter. Diversify Advisory Services LLC now owns 1,579 shares of the industrial products company's stock valued at $539,000 after buying an additional 491 shares in the last quarter. Clear Harbor Asset Management LLC grew its position in shares of Eaton by 18.9% during the 4th quarter. Clear Harbor Asset Management LLC now owns 1,242 shares of the industrial products company's stock valued at $412,000 after acquiring an additional 197 shares during the period. Atomi Financial Group Inc. increased its holdings in Eaton by 13.2% in the 4th quarter. Atomi Financial Group Inc. now owns 4,559 shares of the industrial products company's stock worth $1,513,000 after acquiring an additional 532 shares in the last quarter. Proquility Private Wealth Partners LLC grew its position in shares of Eaton by 2.0% in the fourth quarter. Proquility Private Wealth Partners LLC now owns 8,422 shares of the industrial products company's stock valued at $2,795,000 after purchasing an additional 162 shares during the period. Finally, Beaumont Financial Advisors LLC grew its position in shares of Eaton by 7.5% in the fourth quarter. Beaumont Financial Advisors LLC now owns 1,368 shares of the industrial products company's stock valued at $454,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Performance

Shares of ETN stock opened at $322.32 on Thursday. The firm has a market cap of $126.12 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.64 and a beta of 1.14. 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 Co. plc has a one year low of $231.85 and a one year high of $379.99. The firm's 50 day moving average price is $289.60 and its 200-day moving average price is $319.51.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data 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 22.62% and a net margin of 15.25%. The business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the previous year, the firm posted $2.40 earnings per share. The company's revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio (DPR) is 41.98%.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of Eaton 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 completion of the transaction, the insider now directly owns 3,382 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the sale, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of research analyst reports. Wells Fargo & Company reissued an "overweight" rating and set a $355.00 target price on shares of Eaton in a report on Monday, May 5th. Citigroup upped their price target on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. BNP Paribas Exane assumed coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. StockNews.com raised Eaton from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Evercore ISI lifted their price target on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Eaton has a consensus rating of "Moderate Buy" and a consensus price target of $367.83.

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.

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