Eaton Co. plc (NYSE:ETN) Shares Bought by &Partners

&Partners raised its position in Eaton Co. plc (NYSE:ETN) by 108.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,359 shares of the industrial products company’s stock after acquiring an additional 1,229 shares during the quarter. &Partners’ holdings in Eaton were worth $738,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ETN. Norges Bank acquired a new position in Eaton in the 4th quarter valued at about $1,087,983,000. Balyasny Asset Management L.P. boosted its stake in shares of Eaton by 2,006.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock valued at $232,326,000 after buying an additional 918,936 shares during the period. Capital World Investors purchased a new position in shares of Eaton in the 4th quarter valued at about $181,411,000. Artisan Partners Limited Partnership boosted its stake in shares of Eaton by 207.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock valued at $233,698,000 after buying an additional 654,855 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of Eaton by 19.9% in the 4th quarter. TD Asset Management Inc now owns 2,029,795 shares of the industrial products company’s stock valued at $488,815,000 after buying an additional 337,351 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ETN has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Mizuho reiterated a “buy” rating and issued a $355.00 price objective (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. HSBC lifted their price objective on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Finally, Argus boosted their target price on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Eaton Price Performance

Shares of NYSE ETN opened at $320.06 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The stock has a 50 day moving average of $324.66 and a two-hundred day moving average of $290.17. The stock has a market cap of $127.96 billion, a P/E ratio of 37.79, a P/E/G ratio of 2.70 and a beta of 1.04.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the business earned $1.88 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts forecast that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Friday, May 3rd. Eaton’s dividend payout ratio is currently 44.39%.

Insider Buying and Selling at Eaton

In other news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

Eaton Company 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.