Eaton Co. plc (NYSE:ETN) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 9.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,985 shares of the industrial products company’s stock after buying an additional 2,611 shares during the period. Intech Investment Management LLC’s holdings in Eaton were worth $9,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ETN. Gryphon Financial Partners LLC lifted its stake in shares of Eaton by 81.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 1,053 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in Eaton by 27.3% during the fourth quarter. CreativeOne Wealth LLC now owns 1,324 shares of the industrial products company’s stock worth $319,000 after buying an additional 284 shares during the period. SageView Advisory Group LLC increased its position in shares of Eaton by 148.6% during the fourth quarter. SageView Advisory Group LLC now owns 6,759 shares of the industrial products company’s stock valued at $1,692,000 after acquiring an additional 4,040 shares during the last quarter. Team Hewins LLC purchased a new stake in shares of Eaton in the 4th quarter valued at approximately $481,000. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Eaton by 0.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 30,986 shares of the industrial products company’s stock worth $7,405,000 after acquiring an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $330.59 on Friday. Eaton Co. plc has a 12 month low of $191.82 and a 12 month 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 company has a market cap of $132.17 billion, a P/E ratio of 39.03, a PEG ratio of 2.28 and a beta of 1.01. The firm has a fifty day moving average price of $299.93 and a 200 day moving average price of $312.45.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion for 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%. Sell-side analysts predict that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, August 5th. Eaton’s payout ratio is 44.39%.

Insider Activity at Eaton

In other Eaton news, insider Michael Yelton sold 3,136 shares of the company’s 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 completion of the transaction, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 in the last ninety days. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ETN. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Jefferies Financial Group boosted 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. Morgan Stanley initiated coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Citigroup began coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Finally, Royal Bank of Canada lowered their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average 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.