Eaton Co. plc (NYSE:ETN) Position Boosted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Eaton Co. plc (NYSE:ETN) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,405,287 shares of the industrial products company’s stock after purchasing an additional 131,602 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.61% of Eaton worth $798,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ETN. Wetzel Investment Advisors Inc. grew its position in shares of Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after buying an additional 28 shares during the period. Lantz Financial LLC boosted its stake in Eaton by 4.8% during the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 30 shares during the last quarter. Norden Group LLC increased its stake in Eaton by 3.4% in the fourth quarter. Norden Group LLC now owns 978 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 32 shares in the last quarter. TFC Financial Management Inc. raised its holdings in Eaton by 4.7% in the fourth quarter. TFC Financial Management Inc. now owns 752 shares of the industrial products company’s stock worth $250,000 after purchasing an additional 34 shares during the period. Finally, Nwam LLC boosted its position in shares of Eaton by 0.6% during the fourth quarter. Nwam LLC now owns 5,314 shares of the industrial products company’s stock worth $1,764,000 after purchasing an additional 34 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider now owns 490,208 shares of the company’s stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares of the company’s stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by company insiders.

Eaton Trading Up 0.1%

NYSE ETN opened at $329.34 on Tuesday. The company has a market cap of $128.87 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $288.15 and its 200 day moving average is $319.43.

Eaton (NYSE:ETN) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 EPS. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.26%. Eaton’s dividend payout ratio is currently 41.98%.

Analyst Ratings Changes

ETN has been the subject of several recent analyst reports. Citigroup increased their price target on Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a report on Monday, May 5th. BNP Paribas initiated coverage on Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price target for the company. BNP Paribas Exane started coverage on shares of Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price for the company. StockNews.com upgraded shares of Eaton from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Barclays cut their target price on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research note on Friday, April 4th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $367.83.

About Eaton

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.