Two Sigma Advisers LP boosted its holdings in Eaton Co. (NYSE:ETN) by 849.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 668,077 shares of the industrial products company’s stock after purchasing an additional 597,725 shares during the quarter. Two Sigma Advisers LP owned 0.15% of Eaton worth $52,785,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Baird Financial Group Inc. raised its stake in Eaton by 0.5% in the 4th quarter. Baird Financial Group Inc. now owns 135,991 shares of the industrial products company’s stock worth $10,745,000 after purchasing an additional 630 shares in the last quarter. Financial Counselors Inc. raised its stake in Eaton by 2.0% in the 3rd quarter. Financial Counselors Inc. now owns 33,149 shares of the industrial products company’s stock worth $2,546,000 after purchasing an additional 655 shares in the last quarter. HPM Partners LLC raised its stake in Eaton by 2.9% in the 4th quarter. HPM Partners LLC now owns 23,379 shares of the industrial products company’s stock worth $1,847,000 after purchasing an additional 662 shares in the last quarter. Twin Tree Management LP raised its stake in Eaton by 23.9% in the 4th quarter. Twin Tree Management LP now owns 3,548 shares of the industrial products company’s stock worth $280,000 after purchasing an additional 684 shares in the last quarter. Finally, Sentry Investment Management LLC raised its stake in Eaton by 2.1% in the 4th quarter. Sentry Investment Management LLC now owns 34,722 shares of the industrial products company’s stock worth $2,743,000 after purchasing an additional 701 shares in the last quarter. Institutional investors and hedge funds own 78.90% of the company’s stock.
In other Eaton news, insider William J. Vanlandingham II sold 10,174 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $45.77, for a total transaction of $465,663.98. Following the sale, the insider now directly owns 13,963 shares of the company’s stock, valued at approximately $639,086.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Deborah L. Mccoy sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $82.23, for a total transaction of $328,920.00. Following the sale, the director now directly owns 35,936 shares in the company, valued at $2,955,017.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,769 shares of company stock valued at $2,083,823. 0.50% of the stock is owned by corporate insiders.
ETN stock opened at $75.97 on Friday. The company has a market cap of $34,590.92, a P/E ratio of 16.34, a P/E/G ratio of 1.54 and a beta of 1.36. Eaton Co. has a 1 year low of $69.82 and a 1 year high of $89.85. The company has a quick ratio of 1.13, a current ratio of 1.64 and a debt-to-equity ratio of 0.41.
Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.04. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Eaton had a net margin of 14.60% and a return on equity of 12.84%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 EPS. research analysts expect that Eaton Co. will post 5.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Monday, March 12th were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.48%. This is a boost from Eaton’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 9th. Eaton’s dividend payout ratio is currently 56.77%.
ETN has been the subject of several analyst reports. Zacks Investment Research cut shares of Eaton from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. JPMorgan Chase upgraded shares of Eaton from an “underweight” rating to a “neutral” rating and set a $82.00 price objective for the company in a research note on Thursday, March 1st. UBS started coverage on shares of Eaton in a research note on Tuesday, January 23rd. They issued a “neutral” rating and a $87.00 price objective for the company. Bank of America upgraded shares of Eaton from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $81.03 to $85.00 in a research report on Thursday, March 8th. Finally, Jefferies Group upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Monday, March 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $86.64.
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Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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