Eaton Co. plc (NYSE:ETN) Shares Acquired by Mather Group LLC.

Mather Group LLC. lifted its position in shares of Eaton Co. plc (NYSE:ETN – Get Rating) by 13.3% during the third quarter, HoldingsChannel reports. The firm owned 3,132 shares of the industrial products company’s stock after purchasing an additional 367 shares during the quarter. Mather Group LLC.’s holdings in Eaton were worth $418,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Carolinas Wealth Consulting LLC lifted its position in shares of Eaton by 4,183.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 11,136 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 10,876 shares in the last quarter. Keebeck Alpha LP raised its holdings in Eaton by 21.1% in the third quarter. Keebeck Alpha LP now owns 2,632 shares of the industrial products company’s stock valued at $351,000 after acquiring an additional 458 shares in the last quarter. BTR Capital Management Inc. raised its holdings in Eaton by 7.3% in the third quarter. BTR Capital Management Inc. now owns 26,147 shares of the industrial products company’s stock valued at $3,487,000 after acquiring an additional 1,769 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Eaton by 0.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,074,148 shares of the industrial products company’s stock valued at $276,608,000 after acquiring an additional 6,963 shares in the last quarter. Finally, Johnson Financial Group Inc. raised its holdings in Eaton by 22.1% in the second quarter. Johnson Financial Group Inc. now owns 1,137 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 206 shares in the last quarter. 80.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETN has been the topic of several recent analyst reports. Morgan Stanley upped their price target on shares of Eaton from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, March 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Eaton from $175.00 to $188.00 in a research note on Thursday, February 9th. UBS Group boosted their target price on shares of Eaton from $173.00 to $197.00 in a research note on Tuesday. Royal Bank of Canada boosted their target price on shares of Eaton from $149.00 to $161.00 and gave the company a “sector perform” rating in a research note on Thursday, February 9th. Finally, Mizuho boosted their target price on shares of Eaton from $160.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, January 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Eaton Stock Up 1.6 %

Eaton stock opened at $171.83 on Wednesday. The firm has a market capitalization of $68.39 billion, a P/E ratio of 27.94, a P/E/G ratio of 1.87 and a beta of 1.13. The company has a 50-day simple moving average of $167.14 and a 200-day simple moving average of $155.75. Eaton Co. plc has a one year low of $122.50 and a one year high of $178.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.84 and a current ratio of 1.38.

Eaton (NYSE:ETN – Get Rating) last posted its quarterly earnings data on Wednesday, February 8th. The industrial products company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.01. The business had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.34 billion. Eaton had a net margin of 11.86% and a return on equity of 18.31%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.72 earnings per share. As a group, equities analysts expect that Eaton Co. plc will post 8.26 earnings per share for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Monday, March 6th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $3.44 annualized dividend and a yield of 2.00%. This is an increase from Eaton’s previous quarterly dividend of $0.81. Eaton’s dividend payout ratio is presently 55.93%.

Insider Buying and Selling

In related news, insider Brian S. Brickhouse sold 21,347 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $176.97, for a total value of $3,777,778.59. Following the completion of the sale, the insider now owns 15,905 shares of the company’s stock, valued at $2,814,707.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eaton news, insider Brian S. Brickhouse sold 21,347 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $176.97, for a total value of $3,777,778.59. Following the completion of the sale, the insider now directly owns 15,905 shares of the company’s stock, valued at approximately $2,814,707.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joao V. Faria sold 2,326 shares of Eaton stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $171.23, for a total transaction of $398,280.98. Following the completion of the transaction, the insider now directly owns 77,626 shares in the company, valued at approximately $13,291,899.98. The disclosure for this sale can be found here. Insiders sold 33,377 shares of company stock valued at $5,864,193 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

Eaton Company Profile

(Get Rating)

Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.