Northwest & Ethical Investments L.P. increased its holdings in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 7.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,664 shares of the industrial products company’s stock after buying an additional 947 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Eaton were worth $4,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares during the period. International Assets Investment Management LLC increased its stake in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after buying an additional 1,070,024 shares in the last quarter. Swedbank AB acquired a new position in shares of Eaton during the second quarter valued at approximately $225,974,000. Assenagon Asset Management S.A. raised its holdings in shares of Eaton by 1,604.4% during the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after acquiring an additional 634,059 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its position in shares of Eaton by 31,255.0% in the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock valued at $149,928,000 after acquiring an additional 476,639 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.
Eaton Stock Down 1.4 %
Shares of NYSE:ETN opened at $371.98 on Friday. The business has a 50-day moving average price of $347.47 and a 200 day moving average price of $324.22. Eaton Co. plc has a 12-month low of $224.52 and a 12-month high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $147.01 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 2.82 and a beta of 1.01.
Eaton Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.01%. Eaton’s dividend payout ratio is currently 40.00%.
Insider Activity
In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,981 shares of company stock valued at $24,100,317. 0.53% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several research analysts recently commented on the company. Citigroup started coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Raymond James cut their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Finally, Barclays decreased their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $357.83.
Read Our Latest Research Report on ETN
Eaton Profile
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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