1,075 Shares in Eaton Co. plc (NYSE:ETN) Bought by New Republic Capital LLC

New Republic Capital LLC purchased a new stake in Eaton Co. plc (NYSE:ETNFree Report) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,075 shares of the industrial products company’s stock, valued at approximately $259,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Eaton by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock valued at $7,749,751,000 after acquiring an additional 176,900 shares in the last quarter. FMR LLC grew its stake in shares of Eaton by 36.0% in the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after buying an additional 5,270,331 shares during the period. Northern Trust Corp increased its position in Eaton by 2.2% in the 3rd quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock valued at $1,068,412,000 after buying an additional 109,775 shares in the last quarter. Norges Bank bought a new position in Eaton in the fourth quarter worth approximately $1,087,983,000. Finally, Raymond James & Associates grew its stake in Eaton by 3.8% in the fourth quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock valued at $900,600,000 after acquiring an additional 138,465 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold 17,174 shares of company stock worth $5,098,000 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ETN shares. Argus upped their target price on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. Mizuho reaffirmed a “buy” rating and issued a $355.00 price target (up previously from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. Bank of America boosted their price objective on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, HSBC lifted their target price on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Get Our Latest Stock Report on ETN

Eaton Price Performance

Shares of Eaton stock traded down $4.47 during trading on Wednesday, hitting $332.89. The stock had a trading volume of 1,131,364 shares, compared to its average volume of 1,966,515. The business’s 50-day moving average is $321.84 and its 200 day moving average is $277.87. Eaton Co. plc has a 12 month low of $175.29 and a 12 month high of $345.19. The firm has a market cap of $133.09 billion, a price-to-earnings ratio of 39.55, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETNGet Free Report) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. Eaton’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $1.88 earnings per share. As a group, sell-side analysts anticipate that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a $0.94 dividend. The ex-dividend date was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. Eaton’s dividend payout ratio is presently 44.39%.

About Eaton

(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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