Vinva Investment Management Ltd Buys 6,244 Shares of Eaton Co. plc (NYSE:ETN)

Vinva Investment Management Ltd lifted its stake in Eaton Co. plc (NYSE:ETN) by 52.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,117 shares of the industrial products company’s stock after purchasing an additional 6,244 shares during the quarter. Vinva Investment Management Ltd’s holdings in Eaton were worth $5,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ETN. IAM Advisory LLC purchased a new position in Eaton during the second quarter valued at approximately $599,000. Interval Partners LP boosted its holdings in Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after buying an additional 68,693 shares during the period. Scientech Research LLC increased its stake in Eaton by 285.5% in the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after buying an additional 4,254 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Eaton by 25.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock valued at $8,657,000 after acquiring an additional 5,676 shares in the last quarter. Finally, Leavell Investment Management Inc. boosted its stake in Eaton by 67.6% in the 2nd quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company’s stock worth $2,683,000 after purchasing an additional 3,452 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

Eaton stock opened at $371.97 on Thursday. Eaton Co. plc has a fifty-two week low of $224.52 and a fifty-two week high of $379.99. The company has a market capitalization of $147.00 billion, a PE ratio of 39.57, a P/E/G ratio of 2.99 and a beta of 1.01. The company has a 50 day moving average price of $346.61 and a 200-day moving average price of $323.89. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the business earned $2.47 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.01%. Eaton’s dividend payout ratio is presently 40.00%.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 66,981 shares of company stock valued at $24,100,317 over the last ninety days. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ETN. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and raised their target price for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Finally, Sanford C. Bernstein began coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $357.83.

Eaton Profile

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.