Plato Investment Management Ltd Has $4.64 Million Holdings in Eaton Co. plc (NYSE:ETN)

Plato Investment Management Ltd increased its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 21.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,010 shares of the industrial products company's stock after purchasing an additional 2,466 shares during the period. Plato Investment Management Ltd's holdings in Eaton were worth $4,639,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares 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 worth $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. bought a new position in Eaton during the second quarter worth about $29,000. LGT Financial Advisors LLC acquired a new position in Eaton in the second quarter valued at about $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton in the third quarter worth about $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton during the third quarter worth about $37,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Transactions at Eaton

In other news, Director Karenann K. Terrell acquired 500 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares of the company's stock, valued at $149,485. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares of the company's stock, valued at $1,186,411.68. The trade was a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,705 shares of company stock valued at $24,516,346. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Performance

Eaton stock traded down $7.81 during midday trading on Thursday, reaching $361.85. 1,816,815 shares of the company's stock were exchanged, compared to its average volume of 2,112,224. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock's 50-day simple moving average is $332.81 and its 200 day simple moving average is $320.84. The firm has a market cap of $143.00 billion, a price-to-earnings ratio of 39.35, a P/E/G ratio of 2.96 and a beta of 1.01. Eaton Co. plc has a 52 week low of $224.52 and a 52 week high of $373.49.

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 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 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 was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.47 EPS. On average, analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.04%. Eaton's payout ratio is presently 40.00%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ETN shares. Evercore ISI lowered Eaton from an "outperform" rating to an "inline" rating and boosted their price objective for the company from $333.00 to $389.00 in a research report on Wednesday. Barclays dropped their price objective on shares of Eaton from $327.00 to $320.00 and set an "equal weight" rating on the stock in a report on Friday, November 1st. Bank of America upped their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a research note on Wednesday. Mizuho lifted 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. Finally, Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They set an "outperform" rating and a $382.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $357.83.

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.