Northpointe Capital LLC acquired a new position in Eaton Co. PLC (NYSE:ETN) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,831 shares of the industrial products company’s stock, valued at approximately $2,000,000.
A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 31,765,973 shares of the industrial products company’s stock worth $2,755,064,000 after purchasing an additional 150,330 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 31,765,973 shares of the industrial products company’s stock worth $2,755,064,000 after purchasing an additional 150,330 shares in the last quarter. BlackRock Inc. raised its stake in shares of Eaton by 6.7% during the 4th quarter. BlackRock Inc. now owns 31,171,908 shares of the industrial products company’s stock worth $2,140,263,000 after purchasing an additional 1,955,724 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Eaton by 8,639.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,949 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 9,564,240 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Eaton during the 4th quarter worth about $524,126,000. 78.15% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Eaton from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Credit Suisse Group reaffirmed an “outperform” rating and set a $80.00 price target (down from $85.00) on shares of Eaton in a research note on Thursday, January 3rd. Barclays cut their price target on Eaton from $75.00 to $73.00 and set an “underweight” rating for the company in a research note on Monday, January 7th. Vertical Research raised Eaton from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. Finally, Wells Fargo & Co increased their price objective on Eaton from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $86.80.
Shares of NYSE ETN traded up $0.09 during mid-day trading on Wednesday, reaching $84.24. 519,575 shares of the company traded hands, compared to its average volume of 2,001,696. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.47. The firm has a market cap of $36.12 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 1.54 and a beta of 1.48. Eaton Co. PLC has a fifty-two week low of $64.46 and a fifty-two week high of $89.46.
Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, January 31st. The industrial products company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.42 billion. Eaton had a return on equity of 14.06% and a net margin of 9.93%. As a group, equities research analysts forecast that Eaton Co. PLC will post 5.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Saturday, March 9th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Thursday, March 7th. Eaton’s dividend payout ratio (DPR) is currently 52.69%.
In other Eaton news, insider Nandakumar Cheruvatath sold 9,992 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $80.20, for a total value of $801,358.40. Following the sale, the insider now owns 14,569 shares of the company’s stock, valued at approximately $1,168,433.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Curtis J. Hutchins sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $80.60, for a total value of $967,200.00. The disclosure for this sale can be found here. Insiders sold a total of 73,214 shares of company stock worth $5,709,455 in the last ninety days. Insiders own 0.70% of the company’s stock.
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Eaton Company Profile
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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