Eaton Co. plc (NYSE:ETN) Shares Purchased by Stewart & Patten Co. LLC

Stewart & Patten Co. LLC raised its position in shares of Eaton Co. plc (NYSE:ETNFree Report) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,065 shares of the industrial products company’s stock after purchasing an additional 1,427 shares during the period. Eaton accounts for approximately 2.2% of Stewart & Patten Co. LLC’s holdings, making the stock its 25th biggest position. Stewart & Patten Co. LLC’s holdings in Eaton were worth $14,224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETN. RB Capital Management LLC lifted its stake in shares of Eaton by 3.5% in 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 period. Canada Pension Plan Investment Board lifted its stake in shares of Eaton by 74.8% in 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 period. Baird Financial Group Inc. lifted its stake in shares of Eaton by 0.6% in 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 period. Mather Group LLC. lifted its stake in shares of Eaton by 9.1% in 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 period. Finally, Ergoteles LLC acquired a new stake in shares of Eaton in the 1st quarter worth approximately $1,188,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Down 0.5 %

Eaton stock opened at $312.68 on Friday. The firm has a market cap of $124.92 billion, a PE ratio of 38.99, a P/E/G ratio of 2.61 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. The firm’s 50 day moving average price is $281.80 and its two-hundred day moving average price is $243.63. Eaton Co. plc has a twelve month low of $155.38 and a twelve month high of $317.02.

Eaton (NYSE:ETNGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.06 EPS. On average, research analysts predict that Eaton Co. plc will post 10.25 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.20%. This is an increase from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, March 8th. Eaton’s payout ratio is currently 46.88%.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of research analyst reports. Citigroup upped their price target on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Wells Fargo & Company boosted their target price on shares of Eaton from $220.00 to $257.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 19th. UBS Group boosted their target price on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Mizuho boosted their target price on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Berenberg Bank boosted their target price on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $274.20.

Get Our Latest Analysis on Eaton

Insiders Place Their Bets

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock valued at $10,904,774 over the last ninety days. Corporate insiders own 0.53% 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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