National Bank of Canada FI Has $2.08 Million Stake in Eaton Co. plc (NYSE:ETN)

National Bank of Canada FI lifted its stake in shares of Eaton Co. plc (NYSE:ETNGet Rating) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,718 shares of the industrial products company’s stock after purchasing an additional 210 shares during the period. National Bank of Canada FI’s holdings in Eaton were worth $2,081,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ETN. Financial Management Professionals Inc. lifted its holdings in Eaton by 288.6% in the first quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company’s stock valued at $26,000 after buying an additional 127 shares during the period. Steward Financial Group LLC acquired a new position in Eaton in the first quarter valued at approximately $32,000. Baldwin Brothers LLC MA lifted its holdings in Eaton by 63.0% in the first quarter. Baldwin Brothers LLC MA now owns 220 shares of the industrial products company’s stock valued at $33,000 after buying an additional 85 shares during the period. TFO TDC LLC acquired a new position in Eaton in the first quarter valued at approximately $39,000. Finally, Ahrens Investment Partners LLC lifted its holdings in Eaton by 182.4% in the first quarter. Ahrens Investment Partners LLC now owns 257 shares of the industrial products company’s stock valued at $39,000 after buying an additional 166 shares during the period. 79.10% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Down 0.0 %

Eaton stock opened at $148.65 on Friday. The company has a market cap of $59.31 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19. Eaton Co. plc has a 1-year low of $122.50 and a 1-year high of $175.72. The company has a fifty day simple moving average of $134.53 and a 200 day simple moving average of $144.12. The company has a current ratio of 0.97, a quick ratio of 0.59 and a debt-to-equity ratio of 0.38.

Eaton (NYSE:ETNGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.05. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Eaton had a net margin of 11.70% and a return on equity of 17.04%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $1.72 earnings per share. Research analysts anticipate that Eaton Co. plc will post 7.51 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, August 11th. Eaton’s dividend payout ratio is currently 56.15%.

Wall Street Analysts Forecast Growth

ETN has been the topic of several analyst reports. Credit Suisse Group increased their target price on shares of Eaton from $158.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup increased their target price on shares of Eaton from $150.00 to $170.00 in a report on Thursday. The Goldman Sachs Group cut their target price on shares of Eaton from $175.00 to $146.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. Royal Bank of Canada increased their target price on shares of Eaton from $139.00 to $145.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Robert W. Baird set a $144.00 target price on shares of Eaton in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average price target of $161.33.

Insider Buying and Selling at Eaton

In other Eaton news, insider Boise April Miller sold 12,283 shares of the stock in a transaction on Friday, May 27th. The shares were sold at an average price of $138.66, for a total value of $1,703,160.78. Following the completion of the sale, the insider now owns 11,435 shares in the company, valued at $1,585,577.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Eaton Company Profile

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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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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