Eaton Co. plc (NYSE:ETN) Position Lifted by Rosenberg Matthew Hamilton

Rosenberg Matthew Hamilton raised its position in shares of Eaton Co. plc (NYSE:ETN) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,015 shares of the industrial products company’s stock after purchasing an additional 49 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Eaton were worth $336,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norden Group LLC acquired a new position in Eaton during the 1st quarter valued at $2,176,000. IAM Advisory LLC bought a new stake in Eaton during the 2nd quarter worth approximately $599,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Eaton by 19.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after purchasing an additional 12,689 shares during the last quarter. Interval Partners LP raised its holdings in shares of Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after acquiring an additional 68,693 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Eaton by 302.4% in the 1st quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock valued at $7,277,000 after buying an additional 17,490 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karenann K. Terrell purchased 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was purchased at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the purchase, the director now directly owns 500 shares of the company’s stock, valued at $149,485. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 52,511 shares of company stock valued at $15,809,326. Company insiders own 0.33% of the company’s stock.

Eaton Price Performance

ETN stock traded down $19.55 during trading on Thursday, reaching $323.26. The company’s stock had a trading volume of 1,163,095 shares, compared to its average volume of 2,092,115. The company’s fifty day moving average is $321.71 and its 200-day moving average is $318.06. Eaton Co. plc has a 1 year low of $198.68 and a 1 year high of $349.74. The company has a market capitalization of $128.69 billion, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. On average, research analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.16%. Eaton’s payout ratio is 41.36%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Evercore ISI decreased their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Jefferies Financial Group raised their price objective on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Mizuho upped their target price on Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Eaton Company 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.