Sculptor Capital LP Boosts Holdings in Eaton Co. plc (NYSE:ETN)

Sculptor Capital LP boosted its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,000 shares of the industrial products company's stock after buying an additional 2,000 shares during the quarter. Sculptor Capital LP's holdings in Eaton were worth $6,637,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ETN. Lighthouse Wealth Management Inc. bought a new stake in Eaton in the 4th quarter valued at about $297,000. Bearing Point Capital LLC bought a new stake in Eaton in the 4th quarter valued at about $2,713,000. Webster Bank N. A. raised its stake in Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock valued at $5,949,000 after acquiring an additional 6,166 shares during the period. Ballentine Partners LLC raised its stake in Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock valued at $3,072,000 after acquiring an additional 790 shares during the period. Finally, Blue Trust Inc. raised its stake 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 during the period. Institutional investors own 82.97% of the company's stock.

Eaton Trading Down 0.4%

Shares of NYSE:ETN traded down $1.33 during trading on Tuesday, reaching $327.96. 1,654,467 shares of the company traded hands, compared to its average volume of 2,661,322. The firm has a market capitalization of $128.33 billion, a price-to-earnings ratio of 34.52, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 52-week low of $231.85 and a 52-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. The business's fifty day moving average is $288.15 and its 200-day moving average is $319.43.

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 analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 earnings per share. As a group, analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Monday, May 5th. Eaton's payout ratio is 41.98%.

Analyst Ratings Changes

ETN has been the topic of a number of research reports. StockNews.com upgraded Eaton from a "hold" rating to a "buy" rating in a research note on Sunday. 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. Jefferies Financial Group cut their price objective 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. Morgan Stanley cut their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, Melius Research restated a "hold" rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. 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 currently has an average rating of "Moderate Buy" and a consensus price target of $367.83.

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 value of $629,364.40. Following the sale, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 completion of the sale, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock worth $49,622,894 over the last quarter. Corporate insiders own 0.30% of the company's stock.

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.