Bowman & Co S.C. raised its holdings in Eaton Co. plc (NYSE:ETN – Free Report) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,444 shares of the industrial products company’s stock after acquiring an additional 178 shares during the quarter. Eaton accounts for about 2.1% of Bowman & Co S.C.’s portfolio, making the stock its 10th biggest holding. Bowman & Co S.C.’s holdings in Eaton were worth $4,130,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Groupama Asset Managment lifted its stake in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Eaton during the 3rd quarter valued at $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton during the 3rd quarter worth $35,000. Finally, DT Investment Partners LLC acquired a new position in shares of Eaton in the 3rd quarter worth $37,000. Institutional investors own 82.97% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Citigroup reduced their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Jefferies Financial Group raised their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. dropped their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and upped their price target for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada lifted their price objective on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.
Insiders Place Their Bets
In related news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock valued at $27,660,117 over the last quarter. Insiders own 0.33% of the company’s stock.
Eaton Stock Up 0.4 %
ETN opened at $346.54 on Friday. The company has a market capitalization of $136.95 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. The business has a 50-day moving average of $354.32 and a 200-day moving average of $329.77. Eaton Co. plc has a fifty-two week low of $236.20 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.
Eaton (NYSE:ETN – Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the company earned $2.47 earnings per share. The company’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts forecast that Eaton Co. plc will post 10.8 EPS for the current fiscal year.
Eaton Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s dividend payout ratio (DPR) is currently 40.00%.
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.
Featured Stories
- Five stocks we like better than Eaton
- How to Use Stock Screeners to Find Stocks
- Top ETFs That Beat the Market in 2024 and Could Do It Again
- Russell 2000 Index, How Investors Use it For Profitable Trading
- J.B. Hunt Leads Truckers Lower: Buy Them While They’re Down?
- Utilities Stocks Explained – How and Why to Invest in Utilities
- MarketBeat Week in Review – 01/13 – 01/17
Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.