J. Stern & Co. LLP Has $67.94 Million Stake in Eaton Co. plc (NYSE:ETN)

J. Stern & Co. LLP lifted its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,983 shares of the industrial products company's stock after purchasing an additional 6,565 shares during the period. Eaton comprises 7.2% of J. Stern & Co. LLP's portfolio, making the stock its 3rd largest position. J. Stern & Co. LLP owned 0.05% of Eaton worth $67,940,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Eaton by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 576,657 shares of the industrial products company's stock valued at $180,310,000 after buying an additional 8,153 shares during the last quarter. Ascent Group LLC bought a new stake in shares of Eaton in the 1st quarter worth approximately $231,000. Bayesian Capital Management LP acquired a new position in Eaton during the 1st quarter valued at approximately $600,000. Dynasty Wealth Management LLC bought a new stake in Eaton in the first quarter valued at $1,007,000. Finally, Castleark Management LLC boosted its holdings in shares of Eaton by 181.7% during the first quarter. Castleark Management LLC now owns 38,245 shares of the industrial products company's stock valued at $11,958,000 after acquiring an additional 24,670 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Up 0.1 %

NYSE ETN traded up $0.55 on Tuesday, reaching $377.23. The stock had a trading volume of 2,096,127 shares, compared to its average volume of 2,112,109. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $379.99. The business has a 50 day moving average price of $345.46 and a 200 day moving average price of $323.55. 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 company has a market capitalization of $149.08 billion, a price-to-earnings ratio of 40.13, a P/E/G ratio of 2.99 and a beta of 1.01.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts' consensus estimates 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 firm's revenue 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, analysts forecast that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.00%. Eaton's dividend payout ratio (DPR) is currently 40.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ETN. Barclays cut their price objective on shares of Eaton from $327.00 to $320.00 and set an "equal weight" rating on the stock in a research report on Friday, November 1st. Bank of America increased their price objective on Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price target for the company. Mizuho lifted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company boosted their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $357.83.

Insiders Place Their Bets

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 stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company's stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,117 shares of company stock valued at $25,050,901 over the last quarter. Insiders own 0.33% of the company's stock.

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.