Swiss National Bank Raises Stock Holdings in Eaton Co. plc (NYSE:ETN)

Swiss National Bank boosted its holdings in Eaton Co. plc (NYSE:ETN) by 0.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,186,700 shares of the industrial products company’s stock after purchasing an additional 2,800 shares during the period. Swiss National Bank’s holdings in Eaton were worth $393,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans lifted its holdings in Eaton by 38.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 80,187 shares of the industrial products company’s stock worth $26,576,000 after buying an additional 22,367 shares during the last quarter. Claro Advisors LLC lifted its holdings in shares of Eaton by 4.3% in the 3rd quarter. Claro Advisors LLC now owns 5,640 shares of the industrial products company’s stock worth $1,869,000 after purchasing an additional 232 shares during the last quarter. Tower Bridge Advisors lifted its holdings in shares of Eaton by 1.4% in the 3rd quarter. Tower Bridge Advisors now owns 33,429 shares of the industrial products company’s stock worth $11,080,000 after purchasing an additional 450 shares during the last quarter. WESPAC Advisors SoCal LLC bought a new stake in shares of Eaton in the 3rd quarter worth approximately $4,840,000. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Eaton in the 3rd quarter worth approximately $137,794,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ETN. Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Morgan Stanley began coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Raymond James cut their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Wells Fargo & Company raised their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Barclays lowered their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $357.83.

Insider Buying and Selling

In other news, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This trade represents a 44.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Karenann K. Terrell acquired 500 shares of Eaton stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average cost of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 68,705 shares of company stock worth $24,516,346 in the last three months. 0.53% of the stock is currently owned by insiders.

Eaton Stock Down 0.8 %

Shares of ETN stock opened at $358.99 on Friday. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $373.49. The stock has a market cap of $141.87 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.01. The business’s fifty day moving average is $335.82 and its 200-day moving average is $321.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $2.47 EPS. Equities analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Monday, November 4th. Eaton’s payout ratio is 40.00%.

Eaton 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.