Itau Unibanco Holding S.A. Buys Shares of 11,849 Eaton Co. plc (NYSE:ETN)

Itau Unibanco Holding S.A. bought a new stake in Eaton Co. plc (NYSE:ETN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,849 shares of the industrial products company’s stock, valued at approximately $3,927,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ETN. CWM LLC increased its holdings in shares of Eaton by 15.3% in the 2nd quarter. CWM LLC now owns 16,811 shares of the industrial products company’s stock valued at $5,271,000 after acquiring an additional 2,228 shares during the last quarter. Indiana Trust & Investment Management CO raised its holdings in Eaton by 36.3% during the second quarter. Indiana Trust & Investment Management CO now owns 4,528 shares of the industrial products company’s stock worth $1,420,000 after purchasing an additional 1,205 shares during the last quarter. Fortitude Family Office LLC raised its holdings in Eaton by 113.5% during the second quarter. Fortitude Family Office LLC now owns 410 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 218 shares during the last quarter. Walden Wealth Partners LLC increased its position in Eaton by 40.0% during the second quarter. Walden Wealth Partners LLC now owns 2,100 shares of the industrial products company’s stock worth $658,000 after buying an additional 600 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its position in Eaton by 5.4% during the second quarter. Salem Investment Counselors Inc. now owns 8,380 shares of the industrial products company’s stock worth $2,628,000 after buying an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,981 shares of company stock worth $24,100,317 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Eaton Stock Performance

ETN opened at $372.22 on Tuesday. 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 12-month low of $224.61 and a 12-month high of $379.99. The stock’s 50 day moving average price is $348.37 and its two-hundred day moving average price is $324.41. The firm has a market capitalization of $147.10 billion, a P/E ratio of 39.60, a price-to-earnings-growth ratio of 2.84 and a beta of 1.03.

Eaton (NYSE:ETN) last released 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. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $2.47 EPS. On average, equities analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.01%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ETN shares. Wells Fargo & Company boosted their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Citigroup assumed coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Finally, Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.