Pacer Advisors Inc. Has $8.21 Million Holdings in Eaton Co. plc (NYSE:ETN)

Pacer Advisors Inc. lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 30.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,071 shares of the industrial products company’s stock after purchasing an additional 7,964 shares during the quarter. Pacer Advisors Inc.’s holdings in Eaton were worth $8,205,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. PCA Investment Advisory Services Inc. bought a new position in shares of Eaton in the second quarter valued at $27,000. Coppell Advisory Solutions Corp. acquired a new position in Eaton during the 4th quarter valued at about $30,000. Global Trust Asset Management LLC bought a new stake in Eaton during the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter worth approximately $35,000. Finally, Cornerstone Planning Group LLC bought a new position in shares of Eaton in the second quarter valued at approximately $36,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ETN shares. Royal Bank of Canada upped their price target on Eaton from $246.00 to $286.00 and gave the stock a “sector perform” rating in a report on Thursday, March 14th. Berenberg Bank increased their target price on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Mizuho boosted their price target on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Bank of America increased their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, UBS Group boosted their target price on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $274.20.

Eaton Stock Up 0.8 %

ETN stock opened at $314.63 on Thursday. The stock has a fifty day moving average of $278.80 and a 200-day moving average of $242.64. Eaton Co. plc has a fifty-two week low of $155.38 and a fifty-two week high of $317.02. The company has a market capitalization of $125.69 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 2.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $2.06 earnings per share. As a group, equities research analysts predict that Eaton Co. plc will post 10.25 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 11th will be issued a $0.94 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, March 8th. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Insider Activity

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Peter Denk sold 1,731 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the sale, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is owned by corporate insiders.

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.