Plato Investment Management Ltd Boosts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Plato Investment Management Ltd lifted its position in Eaton Co. plc (NYSE:ETN) by 21.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,010 shares of the industrial products company’s stock after acquiring an additional 2,466 shares during the period. Plato Investment Management Ltd’s holdings in Eaton were worth $4,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Cable Hill Partners LLC acquired a new stake in shares of Eaton in the third quarter valued at about $211,000. Schrum Private Wealth Management LLC purchased a new stake in Eaton during the 3rd quarter valued at about $398,000. Parthenon LLC raised its holdings in Eaton by 18.8% in the 3rd quarter. Parthenon LLC now owns 1,425 shares of the industrial products company’s stock valued at $472,000 after acquiring an additional 225 shares during the last quarter. Mengis Capital Management Inc. lifted its stake in Eaton by 3.1% in the 3rd quarter. Mengis Capital Management Inc. now owns 2,627 shares of the industrial products company’s stock worth $871,000 after purchasing an additional 80 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of Eaton during the 3rd quarter worth approximately $474,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ETN shares. Wells Fargo & Company increased their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Barclays reduced their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the company from $333.00 to $389.00 in a report on Wednesday. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, UBS Group initiated coverage on shares of Eaton in a research report on Wednesday. They set a “buy” rating and a $431.00 price target on the stock. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the sale, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,705 shares of company stock valued at $24,516,346 in the last quarter. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Up 0.2 %

Shares of NYSE:ETN opened at $369.88 on Thursday. The firm’s 50-day moving average is $331.19 and its two-hundred day moving average is $320.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1 year low of $223.87 and a 1 year high of $373.49. The firm has a market capitalization of $146.18 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the business earned $2.47 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts predict that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.02%. Eaton’s dividend payout ratio (DPR) is 40.00%.

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.