Polar Asset Management Partners Inc. Has $38.17 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Polar Asset Management Partners Inc. increased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 801.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 115,000 shares of the industrial products company's stock after buying an additional 102,242 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Eaton were worth $38,165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ETN. Lighthouse Wealth Management Inc. bought a new position in shares of Eaton in the 4th quarter worth $297,000. Bearing Point Capital LLC acquired a new position in shares of Eaton during the fourth quarter valued at about $2,713,000. Webster Bank N. A. increased its position in shares of Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock worth $5,949,000 after acquiring an additional 6,166 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock worth $3,072,000 after acquiring an additional 790 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Eaton by 13.2% in the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock valued at $4,804,000 after acquiring an additional 1,694 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on ETN. JPMorgan Chase & Co. increased their price objective on Eaton from $289.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. KeyCorp increased their price target on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Barclays reduced their target price on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Evercore ISI cut their price target on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average price target of $361.13.

Insider Activity at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction that occurred 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 sale, the insider now owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction that occurred 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 sale, the insider now owns 489,444 shares in the company, valued at $149,490,880.92. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company's stock.

Eaton Stock Down 0.4%

Shares of NYSE ETN opened at $329.39 on Thursday. 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 stock has a market capitalization of $128.89 billion, a PE ratio of 34.67, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The business's fifty day moving average price is $285.45 and its 200-day moving average price is $319.94.

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

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued 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 dividend payout ratio (DPR) is presently 41.98%.

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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