Arete Wealth Advisors LLC purchased a new position in shares of Eaton Co. PLC (NYSE:ETN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,752 shares of the industrial products company’s stock, valued at approximately $258,000.

A number of other large investors have also recently added to or reduced their stakes in ETN. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Eaton by 91.8% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,485 shares of the industrial products company’s stock valued at $476,000 after purchasing an additional 2,625 shares during the last quarter. FormulaFolio Investments LLC purchased a new stake in Eaton in the 3rd quarter worth about $201,000. Jupiter Asset Management Ltd. purchased a new stake in Eaton in the 3rd quarter worth about $1,147,000. Bank of New York Mellon Corp increased its holdings in Eaton by 9.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,820,730 shares of the industrial products company’s stock worth $591,563,000 after acquiring an additional 586,855 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Eaton by 1.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 885,566 shares of the industrial products company’s stock worth $76,805,000 after acquiring an additional 12,176 shares during the last quarter. Institutional investors own 76.39% of the company’s stock.

In other Eaton news, insider Curtis J. Hutchins sold 37,625 shares of the firm’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $76.02, for a total value of $2,860,252.50. Following the completion of the transaction, the insider now owns 15,872 shares in the company, valued at approximately $1,206,589.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joao V. Faria sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $76.73, for a total value of $383,650.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,214 shares of company stock valued at $5,709,455. 0.50% of the stock is owned by corporate insiders.

Shares of NYSE ETN opened at $81.23 on Thursday. Eaton Co. PLC has a 52 week low of $64.46 and a 52 week high of $89.46. The company has a quick ratio of 0.93, a current ratio of 1.47 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $34.76 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 1.51 and a beta of 1.48.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, January 31st. The industrial products company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. Eaton had a return on equity of 14.06% and a net margin of 9.93%. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.42 billion. On average, equities analysts forecast that Eaton Co. PLC will post 5.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Saturday, March 9th will be paid a $0.71 dividend. The ex-dividend date is Thursday, March 7th. This represents a $2.84 annualized dividend and a yield of 3.50%. Eaton’s dividend payout ratio is currently 52.69%.

Several equities research analysts recently weighed in on the company. Zacks Investment Research lowered Eaton from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Credit Suisse Group reissued an “outperform” rating and issued a $80.00 price objective (down previously from $85.00) on shares of Eaton in a report on Thursday, January 3rd. Vertical Research raised Eaton from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Wells Fargo & Co lifted their price objective on Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Finally, Morgan Stanley set a $82.00 price objective on Eaton and gave the stock a “hold” rating in a report on Saturday, February 2nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $86.38.

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Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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