Eaton Co. plc (NYSE:ETN) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC grew its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,671,185 shares of the industrial products company's stock after purchasing an additional 192,482 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.18% of Eaton worth $1,550,226,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp boosted its stake in shares of Eaton by 17.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,101 shares of the industrial products company's stock worth $5,675,000 after buying an additional 2,529 shares during the period. Obermeyer Wealth Partners boosted its stake in shares of Eaton by 1.4% during the fourth quarter. Obermeyer Wealth Partners now owns 9,468 shares of the industrial products company's stock worth $3,142,000 after buying an additional 127 shares during the period. Morse Asset Management Inc boosted its stake in shares of Eaton by 1,155.0% during the fourth quarter. Morse Asset Management Inc now owns 1,255 shares of the industrial products company's stock worth $416,000 after buying an additional 1,155 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Eaton by 6.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 989,455 shares of the industrial products company's stock worth $328,371,000 after buying an additional 56,900 shares during the period. Finally, Mmbg Investment Advisors CO. boosted its stake in shares of Eaton by 3.7% during the fourth quarter. Mmbg Investment Advisors CO. now owns 12,440 shares of the industrial products company's stock worth $4,128,000 after buying an additional 445 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Activity at Eaton

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider now owns 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

Eaton Trading Up 0.8%

Shares of ETN traded up $2.58 during mid-day trading on Friday, reaching $329.40. The company had a trading volume of 1,997,137 shares, compared to its average volume of 2,660,386. The stock has a market cap of $128.89 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. The firm has a fifty day simple moving average of $287.40 and a 200-day simple moving average of $319.71. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last announced 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. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. Eaton's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $2.40 EPS. On average, sell-side analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.26%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ETN. Royal Bank of Canada raised their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Jefferies Financial Group reduced their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Evercore ISI reduced their price target on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company reiterated an "overweight" rating and set a $355.00 price target on shares of Eaton in a research report on Monday, May 5th. Finally, BNP Paribas Exane initiated coverage on shares of Eaton in a research report on Thursday. They set an "outperform" rating and a $380.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Eaton presently has a consensus rating of "Moderate Buy" and a consensus target price of $366.56.

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.