Toroso Investments LLC Has $1.39 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Toroso Investments LLC grew its position in Eaton Co. plc (NYSE:ETN – Get Rating) by 29.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,423 shares of the industrial products company’s stock after purchasing an additional 2,393 shares during the quarter. Toroso Investments LLC’s holdings in Eaton were worth $1,390,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ETN. Price T Rowe Associates Inc. MD boosted its stake in shares of Eaton by 339.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,383,123 shares of the industrial products company’s stock valued at $678,220,000 after purchasing an additional 4,158,351 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Eaton by 17.5% in the 1st quarter. Clearbridge Investments LLC now owns 6,322,217 shares of the industrial products company’s stock valued at $959,460,000 after purchasing an additional 943,279 shares during the last quarter. Balyasny Asset Management LLC boosted its stake in Eaton by 63.8% during the third quarter. Balyasny Asset Management LLC now owns 1,953,682 shares of the industrial products company’s stock worth $260,543,000 after acquiring an additional 760,852 shares in the last quarter. Vanguard Group Inc. boosted its stake in Eaton by 1.1% during the third quarter. Vanguard Group Inc. now owns 35,545,867 shares of the industrial products company’s stock worth $4,740,397,000 after acquiring an additional 398,146 shares in the last quarter. Finally, Amundi boosted its stake in Eaton by 15.2% during the second quarter. Amundi now owns 2,896,360 shares of the industrial products company’s stock worth $362,418,000 after acquiring an additional 381,499 shares in the last quarter. 80.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Joao V. Faria sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $169.00, for a total value of $338,000.00. Following the completion of the transaction, the insider now directly owns 67,166 shares in the company, valued at $11,351,054. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Joao V. Faria sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $169.00, for a total value of $338,000.00. Following the completion of the transaction, the insider now directly owns 67,166 shares in the company, valued at $11,351,054. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joao V. Faria sold 5,204 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $174.55, for a total transaction of $908,358.20. Following the completion of the transaction, the insider now owns 76,314 shares of the company’s stock, valued at $13,320,608.70. The disclosure for this sale can be found here. Insiders sold 33,377 shares of company stock worth $5,864,193 over the last quarter. 0.56% of the stock is currently owned by company insiders.

Eaton Stock Performance

NYSE ETN opened at $160.15 on Friday. Eaton Co. plc has a 52-week low of $122.50 and a 52-week high of $178.75. The company has a 50-day simple moving average of $167.27 and a 200 day simple moving average of $155.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.84 and a current ratio of 1.38. The company has a market capitalization of $63.74 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 1.89 and a beta of 1.13.

Eaton (NYSE:ETN – Get Rating) last issued its earnings results on Wednesday, February 8th. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.01. The firm had revenue of $5.38 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $1.72 earnings per share. On average, research analysts predict that Eaton Co. plc will post 8.24 EPS for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Monday, March 6th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Friday, March 3rd. This is a positive change from Eaton’s previous quarterly dividend of $0.81. Eaton’s dividend payout ratio (DPR) is currently 55.94%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Eaton from $175.00 to $188.00 in a research note on Thursday, February 9th. Morgan Stanley upped their price objective on shares of Eaton from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, March 3rd. StockNews.com assumed coverage on shares of Eaton in a report on Thursday. They set a “strong-buy” rating on the stock. Royal Bank of Canada upped their price objective on shares of Eaton from $149.00 to $161.00 and gave the stock a “sector perform” rating in a report on Thursday, February 9th. Finally, Barclays upped their price objective on shares of Eaton from $130.00 to $148.00 and gave the stock an “underweight” rating in a report on Thursday, February 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Eaton Profile

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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, 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.