Eaton Co. plc (NYSE:ETN) Position Lifted by Rafferty Asset Management LLC

Rafferty Asset Management LLC boosted its position in Eaton Co. plc (NYSE:ETNFree Report) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,490 shares of the industrial products company’s stock after buying an additional 1,757 shares during the quarter. Rafferty Asset Management LLC’s holdings in Eaton were worth $8,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ritholtz Wealth Management raised its holdings in shares of Eaton by 5.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock worth $1,379,000 after purchasing an additional 277 shares during the period. Congress Wealth Management LLC DE grew its holdings in shares of Eaton by 8.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after purchasing an additional 5,725 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Eaton by 30.5% in the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after purchasing an additional 7,964 shares during the last quarter. Weiss Asset Management LP acquired a new position in Eaton during the 4th quarter valued at approximately $1,001,000. Finally, Prospector Partners LLC increased its position in Eaton by 0.6% in the fourth quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock worth $17,172,000 after buying an additional 415 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $326.67 on Thursday. The company has a market cap of $130.60 billion, a P/E ratio of 38.57, a price-to-earnings-growth ratio of 2.64 and a beta of 1.04. The company’s fifty day moving average is $323.58 and its two-hundred day moving average is $281.77. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 12-month low of $182.20 and a 12-month high of $345.19.

Eaton (NYSE:ETNGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.88 EPS. Equities analysts expect that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were given a $0.94 dividend. The ex-dividend date was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.15%. Eaton’s payout ratio is 44.39%.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of analyst reports. Argus boosted their target price on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Berenberg Bank increased their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Evercore ISI upped their price objective on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Bank of America raised their target price on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, HSBC boosted their target price on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Read Our Latest Analysis on Eaton

Insider Buying and Selling at Eaton

In related news, insider Heath B. Monesmith sold 13,027 shares of the 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 completion of the sale, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the completion of the sale, the insider now owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The disclosure for this sale can be found here. Company 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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