Diversified Trust Co Purchases 2,922 Shares of Eaton Co. plc (NYSE:ETN)

Diversified Trust Co grew its position in Eaton Co. plc (NYSE:ETN) by 29.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,762 shares of the industrial products company’s stock after acquiring an additional 2,922 shares during the quarter. Diversified Trust Co’s holdings in Eaton were worth $3,990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Eaton by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company’s stock worth $8,812,966,000 after acquiring an additional 259,615 shares in the last quarter. Norges Bank bought a new stake in Eaton during the 4th quarter worth about $1,087,983,000. Coatue Management LLC grew its stake in shares of Eaton by 5.2% during the fourth quarter. Coatue Management LLC now owns 3,986,445 shares of the industrial products company’s stock valued at $960,016,000 after purchasing an additional 195,809 shares during the last quarter. Raymond James & Associates increased its stake in shares of Eaton by 3.8% in the 4th quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock valued at $900,600,000 after buying an additional 138,465 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Eaton by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,163,432 shares of the industrial products company’s stock valued at $520,998,000 after acquiring an additional 27,386 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other Eaton news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the sale, the insider now directly owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ETN shares. The Goldman Sachs Group boosted their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. JPMorgan Chase & Co. lifted their price objective on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Raymond James started coverage on shares of Eaton in a report on Friday. They issued an “outperform” rating and a $375.00 target price on the stock. Finally, Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $318.06.

Eaton Stock Down 1.1 %

Shares of ETN traded down $3.60 during mid-day trading on Monday, hitting $309.95. 601,253 shares of the company’s stock were exchanged, compared to its average volume of 2,016,850. The company has a 50-day simple moving average of $325.35 and a 200 day simple moving average of $293.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. The company has a market cap of $123.92 billion, a PE ratio of 37.02, a P/E/G ratio of 2.64 and a beta of 1.02. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19.

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

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is 44.39%.

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.