Eaton Co. PLC (ETN) Stake Increased by Commerce Bank

Commerce Bank lifted its holdings in Eaton Co. PLC (NYSE:ETN) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 321,606 shares of the industrial products company’s stock after buying an additional 6,142 shares during the period. Commerce Bank’s holdings in Eaton were worth $27,893,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Stephens Inc. AR boosted its position in Eaton by 5.2% during the second quarter. Stephens Inc. AR now owns 75,832 shares of the industrial products company’s stock valued at $5,668,000 after purchasing an additional 3,775 shares during the last quarter. South Texas Money Management Ltd. lifted its position in shares of Eaton by 13.9% in the second quarter. South Texas Money Management Ltd. now owns 437,414 shares of the industrial products company’s stock worth $32,692,000 after buying an additional 53,275 shares during the last quarter. OppenheimerFunds Inc. lifted its position in shares of Eaton by 44.2% in the second quarter. OppenheimerFunds Inc. now owns 996,721 shares of the industrial products company’s stock worth $74,495,000 after buying an additional 305,393 shares during the last quarter. Independent Advisor Alliance lifted its position in shares of Eaton by 11.1% in the second quarter. Independent Advisor Alliance now owns 14,434 shares of the industrial products company’s stock worth $993,000 after buying an additional 1,440 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Eaton by 1.9% in the second quarter. BlackRock Inc. now owns 29,464,156 shares of the industrial products company’s stock worth $2,202,152,000 after buying an additional 539,852 shares during the last quarter. 77.29% of the stock is owned by institutional investors and hedge funds.

Eaton stock opened at $73.24 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.96 and a current ratio of 1.49. The stock has a market capitalization of $31.74 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.33 and a beta of 1.49. Eaton Co. PLC has a 52 week low of $67.70 and a 52 week high of $89.85.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.43 EPS for the quarter, hitting analysts’ consensus estimates of $1.43. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.49 billion. Eaton had a return on equity of 13.48% and a net margin of 10.06%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. Analysts anticipate that Eaton Co. PLC will post 5.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be paid a $0.66 dividend. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.60%. Eaton’s payout ratio is presently 56.77%.

ETN has been the subject of a number of analyst reports. UBS Group raised Eaton from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $91.00 to $100.00 in a research report on Friday, September 21st. Deutsche Bank boosted their price target on Eaton from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Friday, September 28th. Morgan Stanley initiated coverage on Eaton in a research report on Monday, August 20th. They issued an “equal weight” rating and a $86.00 price target for the company. Credit Suisse Group initiated coverage on Eaton in a research report on Friday, October 12th. They issued an “outperform” rating and a $91.00 price target for the company. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Eaton in a research report on Wednesday, September 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $86.12.

In other news, insider Ken D. Semelsberger sold 11,500 shares of Eaton stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $86.57, for a total value of $995,555.00. Following the transaction, the insider now directly owns 78,883 shares in the company, valued at $6,828,901.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard H. Fearon sold 25,000 shares of Eaton stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $83.29, for a total value of $2,082,250.00. Following the completion of the transaction, the insider now owns 221,459 shares in the company, valued at $18,445,320.11. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock worth $4,617,645 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

About Eaton

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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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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