First Trust Advisors LP Has $75.41 Million Stock Position in Eaton Co. PLC (NYSE:ETN)

First Trust Advisors LP grew its position in Eaton Co. PLC (NYSE:ETN) by 1.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 906,922 shares of the industrial products company’s stock after buying an additional 11,616 shares during the period. First Trust Advisors LP’s holdings in Eaton were worth $75,411,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Vanguard Group Inc. boosted its position in shares of Eaton by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 33,329,894 shares of the industrial products company’s stock worth $2,775,713,000 after purchasing an additional 458,692 shares during the last quarter. BlackRock Inc. boosted its position in shares of Eaton by 1.1% in the 2nd quarter. BlackRock Inc. now owns 30,504,507 shares of the industrial products company’s stock worth $2,540,415,000 after purchasing an additional 341,830 shares during the last quarter. Northern Trust Corp boosted its position in shares of Eaton by 0.4% in the 2nd quarter. Northern Trust Corp now owns 6,090,154 shares of the industrial products company’s stock worth $507,188,000 after purchasing an additional 25,664 shares during the last quarter. Invesco Ltd. boosted its position in shares of Eaton by 28.1% in the 2nd quarter. Invesco Ltd. now owns 5,815,463 shares of the industrial products company’s stock worth $484,312,000 after purchasing an additional 1,276,325 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Eaton by 8.7% in the 2nd quarter. Wells Fargo & Company MN now owns 5,251,156 shares of the industrial products company’s stock worth $437,315,000 after purchasing an additional 420,565 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

Several research analysts have recently issued reports on the company. Robert W. Baird raised their price target on Eaton from $80.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Credit Suisse Group raised their price target on Eaton from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Vertical Group lowered Eaton from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada set a $84.00 price target on Eaton and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research upgraded Eaton from a “sell” rating to a “hold” rating and set a $94.00 price target on the stock in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $90.92.

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In other news, insider Richard H. Fearon sold 34,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $90.05, for a total value of $3,061,700.00. Following the sale, the insider now directly owns 200,384 shares in the company, valued at $18,044,579.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Deborah L. Mccoy sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $79.18, for a total value of $237,540.00. Following the completion of the sale, the director now owns 29,936 shares in the company, valued at $2,370,332.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,000 shares of company stock worth $4,893,860. Corporate insiders own 0.70% of the company’s stock.

ETN stock opened at $92.22 on Friday. The business’s 50-day moving average price is $83.71 and its two-hundred day moving average price is $81.29. The company has a current ratio of 1.72, a quick ratio of 1.10 and a debt-to-equity ratio of 0.52. The firm has a market cap of $37.59 billion, a PE ratio of 17.11, a P/E/G ratio of 1.81 and a beta of 1.42. Eaton Co. PLC has a 1-year low of $64.46 and a 1-year high of $92.37.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.01. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.51 billion. Eaton had a return on equity of 15.15% and a net margin of 11.06%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 earnings per share. On average, analysts forecast that Eaton Co. PLC will post 5.73 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.71 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.84 annualized dividend and a yield of 3.08%. Eaton’s dividend payout ratio is presently 52.69%.

Eaton Profile

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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