Tidal Investments LLC Boosts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Tidal Investments LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 68.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,722 shares of the industrial products company's stock after purchasing an additional 12,069 shares during the quarter. Tidal Investments LLC's holdings in Eaton were worth $9,851,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in shares of Eaton in the 2nd quarter worth approximately $178,000. Miracle Mile Advisors LLC boosted its holdings in Eaton by 12.2% in the second quarter. Miracle Mile Advisors LLC now owns 4,861 shares of the industrial products company's stock worth $1,524,000 after acquiring an additional 528 shares in the last quarter. Brookstone Capital Management grew its stake in shares of Eaton by 88.6% in the second quarter. Brookstone Capital Management now owns 2,593 shares of the industrial products company's stock worth $808,000 after acquiring an additional 1,218 shares during the last quarter. Saxon Interests Inc. increased its holdings in shares of Eaton by 1.9% during the second quarter. Saxon Interests Inc. now owns 5,416 shares of the industrial products company's stock valued at $1,698,000 after acquiring an additional 101 shares in the last quarter. Finally, World Equity Group Inc. raised its position in shares of Eaton by 15.6% in the 2nd quarter. World Equity Group Inc. now owns 2,934 shares of the industrial products company's stock worth $920,000 after purchasing an additional 395 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ETN. Citigroup raised their price objective on shares of Eaton from $394.00 to $440.00 and gave the company a "buy" rating in a research note on Monday. Barclays boosted their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Evercore ISI lowered Eaton from an "outperform" rating to an "inline" rating and lifted their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $374.00 price target on shares of Eaton in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $367.83.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares of the company's stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company's stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,981 shares of company stock valued at $24,100,317 over the last three months. Corporate insiders own 0.53% of the company's stock.

Eaton Stock Performance

ETN stock traded down $1.62 during trading on Friday, reaching $357.02. The stock had a trading volume of 716,746 shares, compared to its average volume of 2,080,452. Eaton Co. plc has a 52 week low of $231.84 and a 52 week high of $379.99. The stock's 50 day moving average is $355.33 and its two-hundred day moving average is $326.59. 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 firm has a market cap of $141.09 billion, a PE ratio of 38.06, a PEG ratio of 2.74 and a beta of 1.03.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. The company 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%. Eaton's revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 earnings per share. As a group, equities analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. Eaton's dividend payout ratio (DPR) is presently 40.00%.

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.