BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases 269,276 Shares of Eaton Co. plc (NYSE:ETN)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 777.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 303,932 shares of the industrial products company's stock after acquiring an additional 269,276 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.08% of Eaton worth $100,735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Breakwater Investment Management grew its position in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock valued at $26,000 after buying an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new stake in shares of Eaton during the 2nd quarter valued at $29,000. LGT Financial Advisors LLC purchased a new stake in shares of Eaton in the 2nd quarter worth $33,000. West Financial Advisors LLC bought a new position in Eaton in the 3rd quarter worth $35,000. Finally, DT Investment Partners LLC purchased a new position in Eaton during the third quarter valued at $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In related news, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Yelton sold 3,136 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company's stock, valued at $1,186,411.68. The trade was a 44.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,705 shares of company stock worth $24,516,346. Insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of several recent research reports. Raymond James decreased their price objective on Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a research note on Monday, September 9th. Morgan Stanley began coverage on shares of Eaton in a research note on Friday, September 6th. They set an "overweight" rating and a $370.00 target price on the stock. Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price target for the company. Citigroup assumed coverage on shares of Eaton in a research report on Monday, September 16th. They set a "buy" rating and a $348.00 price objective on the stock. Finally, Barclays dropped their target price on shares of Eaton from $327.00 to $320.00 and set an "equal weight" rating for the company in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $357.83.

Eaton Price Performance

ETN stock opened at $360.46 on Thursday. Eaton Co. plc has a 52 week low of $224.52 and a 52 week high of $373.49. The firm has a market capitalization of $142.45 billion, a P/E ratio of 38.35, a price-to-earnings-growth ratio of 2.89 and a beta of 1.01. The company has a fifty day simple moving average of $339.96 and a two-hundred day simple moving average of $322.31. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 earnings per share. Analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.04%. Eaton's dividend payout ratio (DPR) is presently 40.00%.

About Eaton

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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