Eaton Co. plc (NYSE:ETN) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its stake in Eaton Co. plc (NYSE:ETNFree Report) by 112.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 602,152 shares of the industrial products company’s stock after acquiring an additional 318,102 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Eaton were worth $188,281,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FinTrust Capital Advisors LLC boosted its position in Eaton by 2.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 37 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Eaton by 3.3% during the fourth quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 42 shares during the last quarter. Telemus Capital LLC boosted its position in Eaton by 1.0% during the fourth quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock valued at $990,000 after purchasing an additional 42 shares during the last quarter. Amarillo National Bank boosted its position in Eaton by 3.5% during the fourth quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 43 shares during the last quarter. Finally, Monument Capital Management boosted its position in Eaton by 1.9% during the fourth quarter. Monument Capital Management now owns 2,415 shares of the industrial products company’s stock valued at $582,000 after purchasing an additional 44 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of research reports. Wolfe Research reissued an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research report on Monday, April 8th. Berenberg Bank boosted their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. HSBC boosted their price target on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Check Out Our Latest Report on Eaton

Eaton Stock Performance

ETN traded up $2.26 on Wednesday, hitting $327.59. 1,903,905 shares of the stock traded hands, compared to its average volume of 2,057,659. Eaton Co. plc has a 52 week low of $189.26 and a 52 week high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $130.97 billion, a PE ratio of 38.66, a P/E/G ratio of 2.72 and a beta of 1.04. The business has a fifty day moving average price of $324.25 and a two-hundred day moving average price of $288.12.

Eaton (NYSE:ETNGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the company posted $1.88 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that Eaton Co. plc will post 10.56 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were paid a $0.94 dividend. The ex-dividend date was Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.15%. Eaton’s dividend payout ratio is currently 44.39%.

Insider Activity

In other news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now directly owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

About Eaton

(Free Report)

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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