1,430 Shares in Eaton Co. plc (NYSE:ETN) Acquired by MQS Management LLC

MQS Management LLC bought a new position in Eaton Co. plc (NYSE:ETN) during the third quarter, HoldingsChannel.com reports. The fund bought 1,430 shares of the industrial products company’s stock, valued at approximately $474,000.

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

Eaton Price Performance

NYSE:ETN opened at $369.88 on Thursday. The stock has a market cap of $146.18 billion, a PE ratio of 39.35, a P/E/G ratio of 2.96 and a beta of 1.01. 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 business’s 50-day simple moving average is $331.19 and its two-hundred day simple moving average is $320.50. Eaton Co. plc has a 52 week low of $223.87 and a 52 week high of $373.49.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping 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 the consensus estimate of $6.37 billion. During the same period in the prior year, the company posted $2.47 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal 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 paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is currently 40.00%.

Insider Transactions at Eaton

In other Eaton news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Karenann K. Terrell bought 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of the firm’s 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 sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 0.00 % decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ETN shares. Wells Fargo & Company boosted their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Citigroup started coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Finally, Bank of America increased their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $357.83.

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.