Cetera Investment Advisers Has $45.63 Million Position in Eaton Co. plc (NYSE:ETN)

Cetera Investment Advisers decreased its position in Eaton Co. plc (NYSE:ETN) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 145,530 shares of the industrial products company’s stock after selling 10,769 shares during the quarter. Cetera Investment Advisers’ holdings in Eaton were worth $45,631,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ETN. Vanguard Group Inc. lifted its holdings in Eaton by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company’s stock worth $8,812,966,000 after buying an additional 259,615 shares in the last quarter. Coatue Management LLC grew its position in shares of Eaton by 5.2% during the 4th quarter. Coatue Management LLC now owns 3,986,445 shares of the industrial products company’s stock worth $960,016,000 after buying an additional 195,809 shares during the period. Legal & General Group Plc lifted its stake in shares of Eaton by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after purchasing an additional 18,077 shares during the period. Capital World Investors increased its holdings in Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after purchasing an additional 2,439,270 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Eaton by 15.5% in the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock valued at $412,108,000 after buying an additional 176,571 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In related news, Director Karenann K. Terrell purchased 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the purchase, the director now owns 500 shares in the company, valued at $149,485. The purchase 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 firm’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 transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Karenann K. Terrell bought 500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the transaction, the director now owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 over the last ninety days. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Performance

Shares of ETN stock opened at $327.52 on Wednesday. The stock has a market cap of $130.94 billion, a P/E ratio of 38.67, a P/E/G ratio of 2.53 and a beta of 1.01. The company has a fifty day moving average price of $301.36 and a two-hundred day moving average price of $314.25. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping 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 firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. As a group, equities analysts predict that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.15%. Eaton’s dividend payout ratio is currently 44.39%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ETN shares. Citigroup began coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target for the company. Barclays boosted their price objective on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Morgan Stanley started coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Jefferies Financial Group upped their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $337.41.

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.