GSG Advisors LLC Has $945,000 Holdings in Eaton Co. plc (NYSE:ETN)

GSG Advisors LLC raised its holdings in Eaton Co. plc (NYSE:ETNFree Report) by 32.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,946 shares of the industrial products company’s stock after buying an additional 719 shares during the quarter. GSG Advisors LLC’s holdings in Eaton were worth $945,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CI Investments Inc. raised its position in shares of Eaton by 72.8% during the third quarter. CI Investments Inc. now owns 1,906 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 803 shares during the period. Hsbc Holdings PLC grew its holdings in Eaton by 10.0% during the third quarter. Hsbc Holdings PLC now owns 256,415 shares of the industrial products company’s stock worth $54,777,000 after buying an additional 23,368 shares in the last quarter. Regal Investment Advisors LLC grew its holdings in Eaton by 9.7% during the third quarter. Regal Investment Advisors LLC now owns 1,218 shares of the industrial products company’s stock worth $260,000 after buying an additional 108 shares in the last quarter. LPL Financial LLC grew its holdings in Eaton by 11.4% during the third quarter. LPL Financial LLC now owns 350,651 shares of the industrial products company’s stock worth $74,731,000 after buying an additional 35,820 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its holdings in Eaton by 38.1% during the third quarter. Ontario Teachers Pension Plan Board now owns 6,153 shares of the industrial products company’s stock worth $1,312,000 after buying an additional 1,698 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETN has been the subject of several recent research reports. Argus upped their price target on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Berenberg Bank upped their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Bank of America upped their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, JPMorgan Chase & Co. upped their price objective on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Get Our Latest Report on ETN

Eaton Stock Performance

Shares of ETN stock traded down $3.18 on Friday, hitting $320.06. 3,068,313 shares of the stock were exchanged, compared to its average volume of 2,008,826. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $127.96 billion, a PE ratio of 37.79, a P/E/G ratio of 2.70 and a beta of 1.04. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The firm’s 50 day moving average is $324.66 and its two-hundred day moving average is $289.72.

Eaton (NYSE:ETNGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.12. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.88 EPS. Sell-side analysts expect that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were issued a dividend of $0.94 per share. The ex-dividend date was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.17%. Eaton’s dividend payout ratio (DPR) is 44.39%.

Insider Buying and Selling

In related news, insider Peter Denk sold 2,416 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the sale, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.

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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