Mizuho Securities USA LLC Acquires 884 Shares of Eaton Co. plc (NYSE:ETN)

Mizuho Securities USA LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,709 shares of the industrial products company’s stock after purchasing an additional 884 shares during the quarter. Mizuho Securities USA LLC’s holdings in Eaton were worth $10,510,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Acadian Asset Management LLC raised its position in shares of Eaton by 139.2% in the 1st quarter. Acadian Asset Management LLC now owns 45,277 shares of the industrial products company’s stock worth $14,152,000 after acquiring an additional 26,349 shares in the last quarter. Trustmark National Bank Trust Department boosted its holdings in shares of Eaton by 6.1% in the 1st quarter. Trustmark National Bank Trust Department now owns 21,440 shares of the industrial products company’s stock valued at $6,704,000 after buying an additional 1,242 shares in the last quarter. Penobscot Investment Management Company Inc. grew its position in shares of Eaton by 2.1% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 3,157 shares of the industrial products company’s stock worth $987,000 after buying an additional 65 shares during the last quarter. Rockport Wealth LLC acquired a new stake in shares of Eaton in the 1st quarter worth $621,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Eaton by 25.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 55,948 shares of the industrial products company’s stock worth $17,494,000 after acquiring an additional 11,347 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Karenann K. Terrell bought 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now owns 500 shares of the company’s stock, valued at $149,485. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 68,705 shares of company stock valued at $24,516,346 in the last ninety days. Company insiders own 0.53% of the company’s stock.

Eaton Price Performance

ETN stock opened at $358.99 on Friday. The business has a fifty day moving average of $335.82 and a two-hundred day moving average of $321.37. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock has a market cap of $141.87 billion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01. Eaton Co. plc has a 52-week low of $224.52 and a 52-week high of $373.49.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm 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 posted $2.47 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, research analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The firm 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 $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Monday, November 4th. Eaton’s payout ratio is 40.00%.

Analysts Set New Price Targets

Several analysts have weighed in on ETN shares. Citigroup initiated coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley initiated coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Finally, Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and upped their target price for the stock from $333.00 to $389.00 in a research note on Wednesday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $357.83.

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.