Eaton Co. plc (NYSE:ETN) Stake Boosted by Tranquility Partners LLC

Tranquility Partners LLC raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 36.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,278 shares of the industrial products company's stock after buying an additional 1,688 shares during the quarter. Tranquility Partners LLC's holdings in Eaton were worth $2,081,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ETN. Capital World Investors boosted its position in shares of Eaton by 323.8% during the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company's stock worth $998,255,000 after purchasing an additional 2,439,270 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock worth $355,959,000 after buying an additional 1,070,024 shares in the last quarter. Swedbank AB purchased a new stake in shares of Eaton in the 2nd quarter worth about $225,974,000. Assenagon Asset Management S.A. boosted its position in shares of Eaton by 1,604.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company's stock worth $211,201,000 after buying an additional 634,059 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its position in shares of Eaton by 31,255.0% in the 2nd quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company's stock worth $149,928,000 after buying an additional 476,639 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore ISI lowered shares of Eaton from an "outperform" rating to an "inline" rating and boosted their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price objective on the stock. Barclays cut their target price on shares of Eaton from $327.00 to $320.00 and set an "equal weight" rating for the company in a research note on Friday, November 1st. UBS Group assumed coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 target price for the company. Finally, Wells Fargo & Company boosted their target price 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. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $357.83.

Eaton Trading Up 1.6 %

ETN traded up $5.83 on Tuesday, reaching $363.66. 1,796,959 shares of the company's stock were exchanged, compared to its average volume of 2,109,122. The company's 50 day moving average is $338.69 and its 200-day moving average is $322.04. The company has a market cap of $143.72 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 2.85 and a beta of 1.01. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $373.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company'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 EPS. Equities analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Monday, November 4th. Eaton's dividend payout ratio is presently 40.00%.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 61,569 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the transaction, the insider now owns 3,914 shares of the company's stock, valued at approximately $1,186,411.68. This trade represents a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,705 shares of company stock worth $24,516,346 in the last 90 days. 0.33% of the stock is owned by company insiders.

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.