Fifth Third Wealth Advisors LLC Has $8.69 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Fifth Third Wealth Advisors LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 8.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,217 shares of the industrial products company’s stock after buying an additional 1,969 shares during the period. Eaton accounts for 0.5% of Fifth Third Wealth Advisors LLC’s holdings, making the stock its 28th largest holding. Fifth Third Wealth Advisors LLC’s holdings in Eaton were worth $8,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Capital World Investors increased its holdings in Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after purchasing an additional 2,439,270 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after purchasing an additional 1,070,024 shares during the period. Swedbank AB acquired a new stake in shares of Eaton during the second quarter worth $225,974,000. Assenagon Asset Management S.A. raised its stake in Eaton by 1,604.4% during the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after buying an additional 634,059 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its holdings in Eaton by 31,255.0% in the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock valued at $149,928,000 after buying an additional 476,639 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ETN shares. Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and increased their price target for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Bank of America boosted their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karenann K. Terrell bought 500 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was bought 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 in the company, valued at $149,485. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 68,705 shares of company stock worth $24,516,346 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Eaton Stock Down 0.3 %

Eaton stock opened at $357.83 on Tuesday. The firm has a 50 day moving average price of $337.19 and a 200-day moving average price of $321.74. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $373.49. The company has a market capitalization of $141.41 billion, a P/E ratio of 38.07, a P/E/G ratio of 2.85 and a beta of 1.01.

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

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. Eaton’s dividend payout ratio is presently 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.