Carmignac Gestion Has $343,000 Stake in Eaton Co. plc (NYSE:ETN)

Carmignac Gestion decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 99.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the industrial products company’s stock after selling 284,673 shares during the quarter. Carmignac Gestion’s holdings in Eaton were worth $343,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ETN. RB Capital Management LLC boosted its stake in Eaton by 3.5% during the 1st quarter. RB Capital Management LLC now owns 2,759 shares of the industrial products company’s stock worth $419,000 after acquiring an additional 94 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Eaton by 74.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 101,412 shares of the industrial products company’s stock worth $15,390,000 after acquiring an additional 43,381 shares during the last quarter. Baird Financial Group Inc. boosted its stake in Eaton by 0.6% during the 1st quarter. Baird Financial Group Inc. now owns 374,204 shares of the industrial products company’s stock worth $56,790,000 after acquiring an additional 2,057 shares during the last quarter. Mather Group LLC. boosted its stake in Eaton by 9.1% during the 1st quarter. Mather Group LLC. now owns 2,682 shares of the industrial products company’s stock worth $407,000 after acquiring an additional 223 shares during the last quarter. Finally, Ergoteles LLC bought a new position in Eaton during the 1st quarter worth approximately $1,188,000. Institutional investors and hedge funds own 81.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ETN. Mizuho lifted their price objective on shares of Eaton from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Citigroup lifted their price target on shares of Eaton from $190.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Royal Bank of Canada lifted their price target on shares of Eaton from $188.00 to $215.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 2nd. Wolfe Research lowered shares of Eaton from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 11th. Finally, Wells Fargo & Company lifted their price target on shares of Eaton from $180.00 to $195.00 in a research note on Monday, July 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $211.93.

Insider Buying and Selling

In other Eaton news, insider Taras G. Jr. Szmagala sold 2,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $183.93, for a total value of $367,860.00. Following the transaction, the insider now directly owns 7,300 shares in the company, valued at $1,342,689. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Craig Arnold sold 100,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $219.45, for a total value of $21,945,000.00. Following the completion of the sale, the insider now owns 516,875 shares of the company’s stock, valued at $113,428,218.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Taras G. Jr. Szmagala sold 2,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $183.93, for a total transaction of $367,860.00. Following the completion of the sale, the insider now directly owns 7,300 shares of the company’s stock, valued at approximately $1,342,689. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,700 shares of company stock worth $25,304,576. Insiders own 0.53% of the company’s stock.

Eaton Stock Up 1.0 %

ETN traded up $2.30 during trading on Friday, reaching $232.67. 225,778 shares of the stock were exchanged, compared to its average volume of 2,001,146. The stock has a market cap of $92.84 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 2.21 and a beta of 1.12. Eaton Co. plc has a twelve month low of $129.85 and a twelve month high of $233.33. The stock’s 50 day moving average price is $210.57 and its two-hundred day moving average price is $185.78. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.99 and a current ratio of 1.53.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.10. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.76 billion. Eaton had a net margin of 12.29% and a return on equity of 19.06%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 earnings per share. Equities analysts expect that Eaton Co. plc will post 8.8 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 7th were issued a dividend of $0.86 per share. The ex-dividend date was Friday, August 4th. This represents a $3.44 dividend on an annualized basis and a yield of 1.48%. Eaton’s payout ratio is 50.81%.

About Eaton

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.