BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Position in Eaton Co. plc (NYSE:ETN)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Eaton Co. plc (NYSE:ETN) by 777.0% during the third quarter, Holdings Channel reports. The institutional investor owned 303,932 shares of the industrial products company’s stock after buying an additional 269,276 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Eaton were worth $100,735,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. MQS Management LLC purchased a new stake in shares of Eaton during the 1st quarter valued at $207,000. Vident Advisory LLC boosted its holdings in Eaton by 13.3% in the first quarter. Vident Advisory LLC now owns 9,322 shares of the industrial products company’s stock worth $2,915,000 after acquiring an additional 1,091 shares in the last quarter. CreativeOne Wealth LLC grew its stake in shares of Eaton by 189.0% during the first quarter. CreativeOne Wealth LLC now owns 3,826 shares of the industrial products company’s stock worth $1,196,000 after acquiring an additional 2,502 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Eaton by 4.4% during the first quarter. EP Wealth Advisors LLC now owns 18,828 shares of the industrial products company’s stock valued at $5,887,000 after acquiring an additional 798 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its position in shares of Eaton by 95.1% in the 1st quarter. Axxcess Wealth Management LLC now owns 6,353 shares of the industrial products company’s stock valued at $1,986,000 after purchasing an additional 3,097 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the transaction, the insider now owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This represents a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,705 shares of company stock worth $24,516,346 in the last ninety days. Insiders own 0.53% of the company’s stock.

Eaton Trading Down 0.9 %

Shares of NYSE:ETN opened at $360.46 on Thursday. The firm has a market capitalization of $142.45 billion, a price-to-earnings ratio of 38.35, a price-to-earnings-growth ratio of 2.89 and a beta of 1.01. The business’s 50 day moving average price is $339.96 and its 200-day moving average price is $322.31. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $373.49.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the firm posted $2.47 earnings per share. The company’s revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 40.00%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ETN. Morgan Stanley began coverage on shares of Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Citigroup began coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $357.83.

About Eaton

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.