Wellington Management Group LLP Buys 11,992 Shares of Eaton Co. plc (NYSE:ETN)

Wellington Management Group LLP lifted its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 74.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,057 shares of the industrial products company's stock after buying an additional 11,992 shares during the period. Wellington Management Group LLP's holdings in Eaton were worth $9,299,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Breakwater Investment Management raised its stake in shares of Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock worth $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. purchased a new stake in Eaton during the second quarter worth about $29,000. Morse Asset Management Inc bought a new stake in Eaton in the third quarter worth about $33,000. LGT Financial Advisors LLC purchased a new position in Eaton in the second quarter valued at about $33,000. Finally, West Financial Advisors LLC bought a new position in shares of Eaton during the 3rd quarter valued at approximately $35,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 506,360 shares of the company's stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,981 shares of company stock worth $24,100,317. Corporate insiders own 0.53% of the company's stock.

Analyst Ratings Changes

ETN has been the topic of a number of research reports. Barclays lifted their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 target price on the stock. Evercore ISI downgraded Eaton from an "outperform" rating to an "inline" rating and increased their price target for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Wells Fargo & Company boosted their price objective on Eaton from $315.00 to $342.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group increased their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $367.83.

Eaton Price Performance

Eaton stock traded down $0.88 during midday trading on Monday, hitting $355.13. 1,506,153 shares of the company's stock were exchanged, compared to its average volume of 2,080,021. The company has a market cap of $140.35 billion, a P/E ratio of 37.78, a PEG ratio of 2.74 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a 50-day moving average price of $356.20 and a two-hundred day moving average price of $326.73. Eaton Co. plc has a 52-week low of $231.84 and a 52-week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company 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 firm earned $2.47 earnings per share. Eaton's revenue was up 7.9% on a year-over-year basis. On average, equities research analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Monday, November 4th. Eaton's dividend payout ratio is currently 40.00%.

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.