Principal Financial Group Inc. Has $151.58 Million Position in Eaton Co. plc (NYSE:ETN)

Principal Financial Group Inc. increased its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 457,350 shares of the industrial products company's stock after acquiring an additional 17,965 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Eaton worth $151,584,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Eaton by 253.2% during 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 valued at $753,590,000 after buying an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC increased 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 valued at $355,959,000 after buying an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Eaton by 32.8% in the third 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 in the last quarter. Wulff Hansen & CO. grew its stake in shares of Eaton by 31,255.0% during the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company's stock worth $149,928,000 after acquiring an additional 476,639 shares during the last quarter. Finally, Electron Capital Partners LLC raised its position in shares of 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 purchasing an additional 441,239 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In other news, insider Craig Arnold sold 61,569 shares of the company's stock in a transaction on 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 owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 transaction of $534,554.96. Following the sale, the insider now directly owns 31,200 shares of the company's stock, valued at approximately $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 90 days, insiders have sold 76,981 shares of company stock valued at $27,660,117. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Eaton from $315.00 to $342.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Mizuho upped their target price on Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They set an "overweight" rating and a $370.00 price target for the company. Wolfe Research upgraded Eaton from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Finally, Citigroup boosted their target price on shares of Eaton from $394.00 to $440.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $367.83.

Eaton Stock Up 0.7 %

Shares of NYSE ETN opened at $338.12 on Friday. The firm has a market cap of $133.63 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 2.74 and a beta of 1.03. Eaton Co. plc has a 1 year low of $231.84 and a 1 year high of $379.99. 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 $356.28 and its 200-day simple moving average is $327.04.

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. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the business earned $2.47 EPS. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Monday, November 4th. Eaton's dividend payout ratio (DPR) is presently 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.