Groupama Asset Managment Increases Holdings in Eaton Co. plc (NYSE:ETN)

Groupama Asset Managment raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 83.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,463 shares of the industrial products company's stock after purchasing an additional 4,298 shares during the quarter. Groupama Asset Managment's holdings in Eaton were worth $31,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ETN. Interval Partners LP grew its holdings in Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company's stock worth $47,571,000 after acquiring an additional 68,693 shares during the last quarter. Scientech Research LLC increased its holdings in Eaton by 285.5% in the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company's stock valued at $1,801,000 after purchasing an additional 4,254 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Eaton by 25.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company's stock worth $8,657,000 after purchasing an additional 5,676 shares during the last quarter. Leavell Investment Management Inc. grew its position in shares of Eaton by 67.6% in the 2nd quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company's stock valued at $2,683,000 after buying an additional 3,452 shares during the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Eaton in the second quarter valued at about $526,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ETN. Evercore ISI downgraded shares of Eaton from an "outperform" rating to an "inline" rating and increased their target price for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. UBS Group assumed coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a "buy" rating and a $431.00 price objective for the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. Wells Fargo & Company lifted their price objective on Eaton from $315.00 to $342.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Finally, 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. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.83.

Eaton Trading Down 1.5 %

Shares of NYSE ETN traded down $5.51 during midday trading on Tuesday, reaching $358.55. The company had a trading volume of 1,891,098 shares, compared to its average volume of 2,088,361. The firm's fifty day moving average price is $353.40 and its 200-day moving average price is $325.99. 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 Co. plc has a one year low of $231.84 and a one year high of $379.99. The stock has a market cap of $141.70 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of 2.81 and a beta of 1.03.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 EPS. On average, equities research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. Eaton's dividend payout ratio is presently 40.00%.

Insider Buying and Selling

In other news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company's stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,981 shares of company stock valued at $24,100,317 over the last quarter. 0.53% of the stock is owned by company insiders.

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.