Eaton Co. plc (NYSE:ETN) Position Increased by Park Avenue Securities LLC

Park Avenue Securities LLC raised its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,520 shares of the industrial products company's stock after buying an additional 2,231 shares during the period. Park Avenue Securities LLC's holdings in Eaton were worth $4,487,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Groupama Asset Managment raised its holdings in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock valued at $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in shares of Eaton during the third quarter worth $33,000. West Financial Advisors LLC purchased a new position in shares of Eaton in the third quarter valued at $35,000. Finally, DT Investment Partners LLC acquired a new stake in Eaton during the 3rd quarter valued at $37,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on ETN shares. Evercore ISI cut shares of Eaton from an "outperform" rating to an "inline" rating and upped their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Bank of America lifted their price objective on Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Barclays upped their target price on Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, UBS Group initiated coverage on shares of Eaton in a report on Wednesday, November 13th. They set a "buy" rating and a $431.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and an average target price of $368.89.

Eaton Stock Performance

ETN stock traded up $1.35 during trading on Friday, reaching $346.54. 2,454,294 shares of the company's stock were exchanged, compared to its average volume of 2,489,136. Eaton Co. plc has a 1-year low of $236.20 and a 1-year high of $379.99. The firm has a market cap of $136.95 billion, a PE ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06. The company's fifty day moving average price is $354.73 and its 200-day moving average price is $329.53. 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 posted 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 business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 earnings per share. On average, research analysts expect that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton's payout ratio is currently 40.00%.

Insider Activity

In other Eaton news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company's stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.33% of the stock is owned by company insiders.

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.