11,849 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. acquired a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund acquired 11,849 shares of the industrial products company's stock, valued at approximately $3,927,000.

Other hedge funds also recently made changes to their positions in the company. Breakwater Investment Management boosted 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 acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new stake in Eaton during the second quarter worth $29,000. LGT Financial Advisors LLC acquired a new stake in shares of Eaton in the second quarter valued at about $33,000. West Financial Advisors LLC acquired a new stake in Eaton during the third quarter worth about $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in Eaton during the second quarter worth about $37,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the firm's 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 sale, the director now owns 51,422 shares of the company's stock, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now directly 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. In the last quarter, insiders have sold 66,981 shares of company stock worth $24,100,317. 0.33% of the stock is owned by corporate insiders.

Eaton Stock Performance

Shares of NYSE ETN traded up $1.49 during mid-day trading on Tuesday, hitting $373.71. The company had a trading volume of 1,303,375 shares, compared to its average volume of 2,095,350. 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 stock's 50-day moving average price is $350.14 and its 200-day moving average price is $325.01. Eaton Co. plc has a 1 year low of $224.61 and a 1 year high of $379.99. The company has a market capitalization of $147.69 billion, a price-to-earnings ratio of 39.76, a P/E/G ratio of 2.82 and a beta of 1.03.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for 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 business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.47 earnings per share. On average, sell-side analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors 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 1.01%. Eaton's dividend payout ratio (DPR) is presently 40.00%.

Analysts Set New Price Targets

Several research firms have recently commented on ETN. Wolfe Research raised shares of Eaton from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Wells Fargo & Company lifted their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an "outperform" rating and a $382.00 target price on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $374.00 price objective on shares of Eaton in a research report on Friday, November 1st. Finally, Evercore ISI downgraded shares of Eaton from an "outperform" rating to an "inline" rating and boosted their target price for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $357.83.

Eaton 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.