Eaton Co. plc (NYSE:ETN) Position Boosted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its holdings in Eaton Co. plc (NYSE:ETNFree Report) by 7.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,458 shares of the industrial products company’s stock after acquiring an additional 4,514 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Eaton were worth $14,814,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. PCA Investment Advisory Services Inc. bought a new position in Eaton in the 2nd quarter valued at about $27,000. Marquette Asset Management LLC acquired a new position in shares of Eaton during the second quarter valued at approximately $28,000. Glass Jacobson Investment Advisors llc bought a new stake in Eaton during the second quarter worth approximately $29,000. Coppell Advisory Solutions Corp. acquired a new stake in Eaton in the fourth quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC bought a new position in Eaton during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 81.02% of the company’s stock.

Eaton Stock Performance

Shares of NYSE ETN opened at $237.26 on Thursday. The business’s 50-day simple moving average is $233.37 and its 200-day simple moving average is $220.26. Eaton Co. plc has a 52 week low of $150.86 and a 52 week high of $244.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.96 and a current ratio of 1.45. The firm has a market cap of $94.74 billion, a price-to-earnings ratio of 31.76, a P/E/G ratio of 2.05 and a beta of 1.05.

Eaton (NYSE:ETNGet Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.13. Eaton had a net margin of 13.24% and a return on equity of 19.49%. The business had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.89 billion. During the same period in the previous year, the company earned $2.02 earnings per share. Eaton’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that Eaton Co. plc will post 9.03 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Monday, November 6th were given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, November 3rd. Eaton’s dividend payout ratio is currently 46.05%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Morgan Stanley raised their target price on Eaton from $235.00 to $238.00 and gave the company an “overweight” rating in a research note on Monday, September 25th. Royal Bank of Canada boosted their target price on shares of Eaton from $215.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 1st. Barclays raised their price objective on Eaton from $185.00 to $187.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 1st. JPMorgan Chase & Co. raised Eaton from a “neutral” rating to an “overweight” rating and set a $230.00 target price for the company in a report on Friday, October 6th. Finally, Wells Fargo & Company increased their price target on Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $222.85.

Get Our Latest Stock Analysis on ETN

Insider Buying and Selling

In other Eaton news, insider Sternadt Paulo Ruiz sold 2,639 shares of Eaton stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $228.05, for a total value of $601,823.95. Following the transaction, the insider now directly owns 11,636 shares of the company’s stock, valued at approximately $2,653,589.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.53% of the stock is owned by insiders.

Eaton Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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