Commerzbank Aktiengesellschaft FI Raises Stake in Eaton Co. plc (NYSE:ETN)

Commerzbank Aktiengesellschaft FI increased its stake in Eaton Co. plc (NYSE:ETN) by 31.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 2,716 shares of the industrial products company’s stock after buying an additional 643 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Eaton were worth $901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. Breakwater Investment Management raised its stake in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new stake in Eaton in the 2nd quarter valued at about $29,000. LGT Financial Advisors LLC bought a new stake in Eaton in the 2nd quarter valued at about $33,000. Redmont Wealth Advisors LLC bought a new stake in Eaton in the 1st quarter valued at about $33,000. Finally, West Financial Advisors LLC bought a new stake in Eaton in the 3rd quarter valued at about $35,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Citigroup initiated coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Royal Bank of Canada decreased their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Raymond James decreased their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Finally, Wells Fargo & Company upped their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $340.06.

Eaton Stock Up 0.4 %

Shares of ETN opened at $345.00 on Thursday. The firm has a market cap of $137.93 billion, a P/E ratio of 40.73, a P/E/G ratio of 2.58 and a beta of 1.02. The stock has a 50 day simple moving average of $317.08 and a two-hundred day simple moving average of $317.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton Co. plc has a 1 year low of $193.77 and a 1 year high of $349.74.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 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.