Bank of Montreal Can Has $162.89 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Bank of Montreal Can boosted its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 16.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 495,944 shares of the industrial products company's stock after purchasing an additional 68,247 shares during the period. Bank of Montreal Can owned 0.13% of Eaton worth $162,893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. International Assets Investment Management LLC grew its position in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock worth $355,959,000 after purchasing an additional 1,070,024 shares in the last quarter. Swedbank AB acquired a new stake in shares of Eaton during the 2nd quarter valued at $225,974,000. Assenagon Asset Management S.A. boosted its stake in shares of Eaton by 1,604.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company's stock valued at $211,201,000 after buying an additional 634,059 shares during the period. Wulff Hansen & CO. boosted its stake in shares of Eaton by 31,255.0% during the 2nd quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company's stock valued at $149,928,000 after buying an additional 476,639 shares during the period. Finally, Electron Capital Partners LLC boosted its stake in shares of Eaton by 8,348.9% during the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company's stock valued at $140,008,000 after buying an additional 441,239 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In other news, insider Michael Yelton sold 3,136 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the transaction, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. The trade was a 44.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company's stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,117 shares of company stock worth $25,050,901. 0.33% of the stock is currently owned by company insiders.

Eaton Stock Performance

Eaton stock traded up $0.55 on Tuesday, reaching $377.23. 2,096,127 shares of the stock were exchanged, compared to its average volume of 2,112,109. The stock has a market cap of $149.08 billion, a PE ratio of 40.13, a PEG ratio of 2.99 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $379.99. The firm has a fifty day moving average price of $345.46 and a two-hundred day moving average price of $323.55.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the business earned $2.47 EPS. The business's revenue was up 7.9% on a year-over-year basis. Sell-side analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.00%. Eaton's payout ratio is 40.00%.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of research reports. Wolfe Research raised shares of Eaton from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Raymond James decreased their target price on shares of Eaton from $375.00 to $365.00 and set an "outperform" rating for the company in a research note on Monday, September 9th. Barclays decreased their target price on shares of Eaton from $327.00 to $320.00 and set an "equal weight" rating for the company in a research note on Friday, November 1st. Evercore ISI lowered shares of Eaton from an "outperform" rating to an "inline" rating and lifted their target price for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, UBS Group assumed coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $357.83.

Eaton 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.