Susquehanna Fundamental Investments LLC Acquires Shares of 7,600 Eaton Co. plc (NYSE:ETN)

Susquehanna Fundamental Investments LLC bought a new stake in Eaton Co. plc (NYSE:ETN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,600 shares of the industrial products company’s stock, valued at approximately $2,383,000.

A number of other large investors also recently made changes to their positions in ETN. J. W. Coons Advisors LLC lifted its position in shares of Eaton by 2.1% during the 4th quarter. J. W. Coons Advisors LLC now owns 12,979 shares of the industrial products company’s stock worth $3,126,000 after buying an additional 265 shares in the last quarter. CWA Asset Management Group LLC boosted its position in Eaton by 10.8% in the fourth quarter. CWA Asset Management Group LLC now owns 7,090 shares of the industrial products company’s stock worth $1,707,000 after purchasing an additional 690 shares during the last quarter. NEOS Investment Management LLC boosted its position in Eaton by 27.8% in the fourth quarter. NEOS Investment Management LLC now owns 8,159 shares of the industrial products company’s stock worth $1,965,000 after purchasing an additional 1,776 shares during the last quarter. Rafferty Asset Management LLC grew its stake in Eaton by 5.5% in the 4th quarter. Rafferty Asset Management LLC now owns 33,490 shares of the industrial products company’s stock valued at $8,065,000 after purchasing an additional 1,757 shares during the period. Finally, Peapack Gladstone Financial Corp raised its stake in shares of Eaton by 1.8% during the 4th quarter. Peapack Gladstone Financial Corp now owns 13,317 shares of the industrial products company’s stock worth $3,207,000 after purchasing an additional 233 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

Eaton stock opened at $331.44 on Tuesday. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $132.51 billion, a PE ratio of 39.13, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The firm’s 50 day simple moving average is $301.25 and its 200 day simple moving average is $314.04.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, 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 announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. Eaton’s dividend payout ratio is presently 44.39%.

Insider Transactions at Eaton

In related news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated 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 owns 9,900 shares of the company’s stock, valued at $2,858,328. The disclosure for this sale can be found here. In the last three months, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on ETN shares. Barclays raised their price objective on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Jefferies Financial Group increased their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company lowered their target price on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Citigroup assumed coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price target for the company. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $337.41.

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.