Assetmark Inc. increased its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,918 shares of the industrial products company's stock after acquiring an additional 1,693 shares during the period. Assetmark Inc.'s holdings in Eaton were worth $10,247,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ETN. Choate Investment Advisors raised its holdings in Eaton by 2.8% during the 1st quarter. Choate Investment Advisors now owns 4,011 shares of the industrial products company's stock valued at $1,254,000 after buying an additional 108 shares during the period. Verus Capital Partners LLC raised its stake in shares of Eaton by 2.7% in the first quarter. Verus Capital Partners LLC now owns 1,619 shares of the industrial products company's stock valued at $506,000 after acquiring an additional 43 shares during the period. Headlands Technologies LLC bought a new stake in shares of Eaton in the 1st quarter worth about $191,000. Washington Trust Advisors Inc. boosted its stake in shares of Eaton by 129.4% during the 1st quarter. Washington Trust Advisors Inc. now owns 390 shares of the industrial products company's stock worth $122,000 after purchasing an additional 220 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Eaton by 8.6% during the 1st quarter. Russell Investments Group Ltd. now owns 341,258 shares of the industrial products company's stock valued at $106,791,000 after purchasing an additional 26,948 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ETN stock opened at $366.67 on Monday. The company has a market cap of $144.91 billion, a P/E ratio of 39.01, a PEG ratio of 2.88 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The stock's 50-day moving average is $328.30 and its 200 day moving average is $319.79. Eaton Co. plc has a 1-year low of $217.61 and a 1-year high of $369.29.
Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 EPS. Research analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.03%. Eaton's dividend payout ratio (DPR) is 40.00%.
In other news, insider Michael Yelton sold 3,136 shares of the company's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the transaction, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares of the company's stock, valued at $182,780,769.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,745 shares of company stock worth $39,278,367. 0.53% of the stock is owned by insiders.
Several research analysts have issued reports on the company. Barclays dropped their target price on Eaton from $327.00 to $320.00 and set an "equal weight" rating for the company in a research report on Friday, November 1st. Wolfe Research raised Eaton from an "underperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Citigroup began coverage on Eaton in a research report on Monday, September 16th. They set a "buy" rating and a $348.00 target price for the company. Raymond James cut their price target on shares of Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a report on Monday, September 9th. Finally, Mizuho lifted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $343.28.
View Our Latest Stock Analysis on ETN
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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