7,082 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Impax Asset Management Group plc

Impax Asset Management Group plc purchased a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,082 shares of the industrial products company's stock, valued at approximately $2,347,000.

Other institutional investors also recently modified their holdings of the company. Breakwater Investment Management boosted its stake in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new stake in shares of Eaton in the second quarter valued at approximately $29,000. LGT Financial Advisors LLC acquired a new stake in shares of Eaton in the second quarter worth $33,000. West Financial Advisors LLC bought a new position in Eaton during the third quarter worth $35,000. Finally, DT Investment Partners LLC acquired a new position in Eaton during the 3rd quarter valued at $37,000. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ETN. Wells Fargo & Company boosted their price objective on shares of Eaton from $315.00 to $342.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They issued an "overweight" rating and a $370.00 price objective for the company. Royal Bank of Canada restated an "outperform" rating and set a $374.00 price objective on shares of Eaton in a research report on Friday, November 1st. Finally, UBS Group started coverage on Eaton in a research report on Wednesday. They issued a "buy" rating and a $431.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and a consensus price target of $357.83.

Insider Activity

In other news, insider Craig Arnold sold 61,569 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 506,360 shares of the company's stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction that occurred on Friday, November 1st. The stock was 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. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,705 shares of company stock valued at $24,516,346 in the last 90 days. 0.53% of the stock is owned by company insiders.

Eaton Trading Down 0.8 %

Shares of ETN stock traded down $2.87 on Friday, reaching $358.99. 2,232,026 shares of the stock were exchanged, compared to its average volume of 2,038,455. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a one year low of $224.52 and a one year high of $373.49. The stock has a market cap of $141.87 billion, a PE ratio of 38.19, a P/E/G ratio of 2.85 and a beta of 1.01. The stock has a 50 day moving average price of $335.82 and a 200 day moving average price of $321.37.

Eaton (NYSE:ETN - Get Free Report) last announced 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 firm had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.47 EPS. Equities research analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, November 4th. Eaton's payout ratio is 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.