Quantinno Capital Management LP increased its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,280 shares of the industrial products company's stock after buying an additional 5,842 shares during the quarter. Quantinno Capital Management LP's holdings in Eaton were worth $13,368,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the stock. Pathstone Holdings LLC grew its stake in shares of Eaton by 1.3% in the fourth quarter. Pathstone Holdings LLC now owns 61,668 shares of the industrial products company's stock valued at $20,475,000 after buying an additional 787 shares in the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of Eaton in the fourth quarter valued at about $1,936,000. Nissay Asset Management Corp Japan ADV grew its stake in shares of Eaton by 14.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 238,349 shares of the industrial products company's stock valued at $79,759,000 after buying an additional 30,359 shares in the last quarter. NorthRock Partners LLC grew its stake in shares of Eaton by 136.6% in the fourth quarter. NorthRock Partners LLC now owns 3,998 shares of the industrial products company's stock valued at $1,327,000 after buying an additional 2,308 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Eaton by 4.3% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.
Eaton Stock Performance
Shares of NYSE ETN traded up $2.58 during mid-day trading on Friday, hitting $329.40. The company had a trading volume of 1,997,137 shares, compared to its average volume of 2,663,514. The stock has a market cap of $128.89 billion, a price-to-earnings ratio of 34.67, a PEG 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. 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 firm's 50 day simple moving average is $287.40 and its two-hundred day simple moving average is $319.55.
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 (EPS) for the quarter, topping 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 return on equity of 22.62% and a net margin of 15.25%. The business's revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $2.40 EPS. As a group, equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.
Eaton Dividend Announcement
The business also recently declared 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 dividend yield of 1.26%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio (DPR) is 41.98%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday. KeyCorp increased their price target on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Melius Research reissued a "hold" rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. BNP Paribas initiated coverage on Eaton in a report on Thursday. They issued an "outperform" rating and a $380.00 price target for the company. Finally, Citigroup increased their price target on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $366.56.
Read Our Latest Stock Analysis on ETN
Insider Buying and Selling
In related news, insider Craig Arnold sold 51,054 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $629,364.40. Following the sale, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% 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 valued at $49,622,894. Insiders own 0.30% of the company's stock.
Eaton Profile
(
Free Report)
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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