14,822 Shares in Eaton Co. plc (NYSE:ETN) Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB bought a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,822 shares of the industrial products company's stock, valued at approximately $4,913,000.

A number of other hedge funds also recently modified their holdings of ETN. Breakwater Investment Management raised its holdings in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock worth $26,000 after acquiring an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new stake in shares of Eaton in the second quarter valued at about $29,000. Groupama Asset Managment grew its position in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 4,298 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in shares of Eaton in the second quarter valued at about $33,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Eaton in the third quarter valued at about $33,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays raised their price target on Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Evercore ISI downgraded Eaton from an "outperform" rating to an "inline" rating and raised their price target for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Wolfe Research raised Eaton from an "underperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Finally, UBS Group assumed coverage on Eaton in a research report on Wednesday, November 13th. They set a "buy" rating and a $431.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $367.83.

Eaton Price Performance

Shares of NYSE:ETN traded down $1.30 during trading on Friday, reaching $357.34. The stock had a trading volume of 628,921 shares, compared to its average volume of 2,080,082. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The business's 50-day moving average price is $355.33 and its 200 day moving average price is $326.59. Eaton Co. plc has a 52 week low of $231.84 and a 52 week high of $379.99. The stock has a market capitalization of $141.22 billion, a PE ratio of 38.06, a P/E/G ratio of 2.74 and a beta of 1.03.

Eaton (NYSE:ETN - Get Free Report) last posted 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 firm had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the previous year, the company posted $2.47 EPS. Eaton's revenue was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were 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 of this dividend was Monday, November 4th. Eaton's dividend payout ratio is presently 40.00%.

Insiders Place Their Bets

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares of the company's stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company's stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,981 shares of company stock valued at $24,100,317. Company insiders own 0.53% of the company's stock.

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.