Plato Investment Management Ltd Increases Stock Position in Eaton Co. plc (NYSE:ETN)

Plato Investment Management Ltd boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 21.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,010 shares of the industrial products company’s stock after buying an additional 2,466 shares during the period. Plato Investment Management Ltd’s holdings in Eaton were worth $4,639,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Breakwater Investment Management boosted its position in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. purchased a new position in shares of Eaton in the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC bought a new position in shares of Eaton during the 2nd quarter worth approximately $33,000. West Financial Advisors LLC purchased a new stake in Eaton during the third quarter valued at approximately $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in Eaton in the second quarter valued at approximately $37,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, insider Michael Yelton sold 3,136 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now owns 500 shares of the company’s stock, valued at $149,485. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 68,705 shares of company stock worth $24,516,346. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of recent analyst reports. Raymond James reduced their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Wells Fargo & Company increased their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $357.83.

Eaton Stock Performance

NYSE ETN opened at $369.88 on Thursday. The firm has a market capitalization of $146.18 billion, a P/E ratio of 39.35, a PEG ratio of 2.96 and a beta of 1.01. The stock has a 50-day simple moving average of $331.19 and a two-hundred day simple moving average of $320.50. 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 Co. plc has a fifty-two week low of $223.87 and a fifty-two week high of $373.49.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the business earned $2.47 earnings per share. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Eaton Company 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.