Sumitomo Mitsui Asset Management Company LTD grew its holdings in Eaton Co. PLC (NYSE:ETN) by 5.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,993 shares of the industrial products company’s stock after buying an additional 4,261 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Eaton were worth $6,202,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ETN. Oregon Public Employees Retirement Fund lifted its holdings in shares of Eaton by 8,639.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,949 shares of the industrial products company’s stock valued at $141,000 after buying an additional 9,564,240 shares during the period. Norges Bank acquired a new stake in shares of Eaton in the 4th quarter valued at approximately $524,126,000. Boston Partners lifted its holdings in shares of Eaton by 40.9% in the 1st quarter. Boston Partners now owns 10,269,144 shares of the industrial products company’s stock valued at $827,282,000 after buying an additional 2,978,615 shares during the period. Ronna Sue Cohen lifted its holdings in shares of Eaton by 7,553.8% in the 1st quarter. Ronna Sue Cohen now owns 2,689,093 shares of the industrial products company’s stock valued at $2,689,000 after buying an additional 2,653,959 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Eaton by 6.7% in the 4th quarter. BlackRock Inc. now owns 31,171,908 shares of the industrial products company’s stock valued at $2,140,263,000 after buying an additional 1,955,724 shares during the period. 80.07% of the stock is owned by institutional investors and hedge funds.

NYSE ETN traded up $0.23 during mid-day trading on Thursday, hitting $79.77. The stock had a trading volume of 3,871 shares, compared to its average volume of 2,505,689. Eaton Co. PLC has a 52-week low of $64.46 and a 52-week high of $89.46. The company has a market capitalization of $33.21 billion, a P/E ratio of 14.76, a PEG ratio of 1.52 and a beta of 1.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.47 and a quick ratio of 0.92.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Eaton had a return on equity of 14.56% and a net margin of 10.06%. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.38 billion. During the same period last year, the business posted $1.10 EPS. Eaton’s quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts expect that Eaton Co. PLC will post 5.89 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.56%. The ex-dividend date is Thursday, May 2nd. Eaton’s payout ratio is 52.69%.

Several analysts have recently commented on the company. Bank of America cut Eaton from a “buy” rating to a “neutral” rating and set a $88.00 price target for the company. in a report on Thursday, April 4th. Wells Fargo & Co raised their price objective on Eaton from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. They noted that the move was a valuation call. Vertical Research raised Eaton from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. Morgan Stanley set a $82.00 price objective on Eaton and gave the company a “hold” rating in a research note on Saturday, February 2nd. Finally, Robert W. Baird set a $89.00 price objective on Eaton and gave the company a “buy” rating in a research note on Saturday, February 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. Eaton currently has a consensus rating of “Hold” and an average price target of $86.79.

In related news, Director Dorothy C. Thompson purchased 1,655 shares of the company’s stock in a transaction on Monday, May 13th. The stock was bought at an average price of $78.54 per share, with a total value of $129,983.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heath B. Monesmith sold 7,167 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $81.25, for a total value of $582,318.75. Following the transaction, the insider now directly owns 26,344 shares of the company’s stock, valued at approximately $2,140,450. The disclosure for this sale can be found here. Insiders have sold 30,589 shares of company stock valued at $2,465,553 in the last three months. 0.70% of the stock is currently owned by company insiders.

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Eaton Company 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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