Fifth Third Wealth Advisors LLC Has $8.69 Million Position in Eaton Co. plc (NYSE:ETN)

Fifth Third Wealth Advisors LLC boosted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 8.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,217 shares of the industrial products company's stock after acquiring an additional 1,969 shares during the quarter. Eaton comprises 0.5% of Fifth Third Wealth Advisors LLC's holdings, making the stock its 28th largest holding. Fifth Third Wealth Advisors LLC's holdings in Eaton were worth $8,689,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company's stock worth $998,255,000 after purchasing an additional 2,439,270 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock valued at $355,959,000 after purchasing an additional 1,070,024 shares during the period. Swedbank AB purchased a new stake in shares of Eaton in the second quarter valued at $225,974,000. Assenagon Asset Management S.A. grew its position in Eaton by 1,604.4% during the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company's stock valued at $211,201,000 after acquiring an additional 634,059 shares during the period. Finally, Wulff Hansen & CO. grew its position in Eaton by 31,255.0% during the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company's stock valued at $149,928,000 after acquiring an additional 476,639 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Performance

NYSE ETN traded up $4.96 during trading on Tuesday, reaching $362.79. The company's stock had a trading volume of 939,185 shares, compared to its average volume of 2,105,059. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $143.37 billion, a price-to-earnings ratio of 38.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.01. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $373.49. The firm has a 50 day moving average price of $337.19 and a 200 day moving average price of $321.74.

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 (EPS) for the quarter, beating 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 the consensus estimate of $6.37 billion. During the same quarter in the previous year, the firm posted $2.47 EPS. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Dividend Announcement

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

Insider Activity at Eaton

In other Eaton news, Director Karenann K. Terrell purchased 500 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the transaction, the director now owns 500 shares in the company, valued at $149,485. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dorothy C. Thompson purchased 2,205 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 68,705 shares of company stock valued at $24,516,346 in the last quarter. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank of Canada restated an "outperform" rating and set a $374.00 price objective on shares of Eaton in a research note on Friday, November 1st. Citigroup assumed coverage on Eaton in a research note on Monday, September 16th. They issued a "buy" rating and a $348.00 price target on the stock. Wells Fargo & Company boosted their price target on Eaton from $315.00 to $342.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Raymond James cut their price target on Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a research note on Monday, September 9th. Finally, Barclays cut their price target on Eaton from $327.00 to $320.00 and set an "equal weight" rating on the stock in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Eaton presently has a consensus rating of "Moderate Buy" and an average price target of $357.83.

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.