Hennion & Walsh Asset Management Inc. grew its position in Eaton Co. plc (NYSE:ETN - Free Report) by 127.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,635 shares of the industrial products company's stock after purchasing an additional 4,284 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Eaton were worth $2,534,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company's stock worth $753,590,000 after purchasing an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC lifted its position in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock worth $355,959,000 after buying an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock worth $801,798,000 after acquiring an additional 597,700 shares during the last quarter. Electron Capital Partners LLC increased its position in Eaton by 8,348.9% in the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company's stock valued at $140,008,000 after acquiring an additional 441,239 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Eaton in the third quarter worth about $137,794,000. Institutional investors own 82.97% of the company's stock.
Wall Street Analyst Weigh In
ETN has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their price target on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a report on Wednesday. Bank of America lifted their target price on Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Wells Fargo & Company cut their price target on Eaton from $365.00 to $350.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Sanford C. Bernstein initiated coverage on Eaton in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price objective for the company. Finally, Royal Bank of Canada upped their target price on shares of Eaton from $374.00 to $392.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. 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, Eaton presently has a consensus rating of "Moderate Buy" and a consensus target price of $368.89.
Check Out Our Latest Stock Report on ETN
Eaton Stock Up 0.4 %
Shares of NYSE:ETN traded up $1.35 during trading on Friday, hitting $346.54. 2,454,294 shares of the company's stock traded hands, compared to its average volume of 1,724,943. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 52 week low of $236.20 and a 52 week high of $379.99. The company has a 50-day moving average price of $354.32 and a 200-day moving average price of $329.77. The company has a market cap of $136.95 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06.
Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $2.47 EPS. As a group, research analysts forecast that Eaton Co. plc will post 10.8 EPS for the current fiscal year.
Eaton Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Eaton's dividend payout ratio is currently 40.00%.
Insider Transactions at Eaton
In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company's stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the 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 completion of the sale, the insider now directly owns 31,200 shares of the company's stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock valued at $27,660,117 over the last 90 days. 0.33% of the stock is owned by corporate insiders.
About Eaton
(
Free Report)
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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