Swiss National Bank Acquires 2,800 Shares of Eaton Co. plc (NYSE:ETN)

Swiss National Bank grew its position in Eaton Co. plc (NYSE:ETN - Free Report) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,186,700 shares of the industrial products company's stock after purchasing an additional 2,800 shares during the quarter. Swiss National Bank owned approximately 0.30% of Eaton worth $393,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETN. Breakwater Investment Management increased its stake in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock worth $26,000 after buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. purchased a new stake in shares of Eaton during the second quarter worth about $29,000. LGT Financial Advisors LLC bought a new stake in Eaton during the 2nd quarter valued at approximately $33,000. West Financial Advisors LLC purchased a new position in Eaton in the 3rd quarter worth approximately $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in Eaton in the 2nd quarter worth approximately $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eaton

In related news, Director Karenann K. Terrell acquired 500 shares of the stock in a transaction on Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now directly owns 500 shares in the company, valued at approximately $149,485. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares of the company's stock, valued at approximately $662,161.50. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 68,705 shares of company stock valued at $24,516,346 in the last quarter. 0.53% of the stock is owned by insiders.

Eaton Trading Down 0.8 %

ETN stock traded down $2.87 during mid-day trading on Friday, reaching $358.99. 2,232,026 shares of the stock traded hands, compared to its average volume of 2,038,455. Eaton Co. plc has a one year low of $224.52 and a one year high of $373.49. The stock has a market capitalization of $141.87 billion, a PE ratio of 38.19, a PEG ratio of 2.85 and a beta of 1.01. 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 business has a 50-day moving average price of $335.82 and a two-hundred day moving average price of $321.44.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the firm posted $2.47 EPS. The firm's revenue was up 7.9% compared to the same quarter last year. Equities research analysts expect that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Monday, November 4th. Eaton's payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays reduced 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. Morgan Stanley started coverage on shares of Eaton in a research note on Friday, September 6th. They issued an "overweight" rating and a $370.00 price target on the stock. 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. Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 target price on the stock. Finally, Raymond James cut their price target on Eaton from $375.00 to $365.00 and set an "outperform" rating for the company in a report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $357.83.

About Eaton

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.