Eaton Co. plc (NYSE:ETN) Shares Bought by Penserra Capital Management LLC

Penserra Capital Management LLC grew its stake in Eaton Co. plc (NYSE:ETN) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,116 shares of the industrial products company’s stock after buying an additional 43 shares during the quarter. Penserra Capital Management LLC’s holdings in Eaton were worth $699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Breakwater Investment Management boosted its position in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. purchased a new stake in Eaton during the second quarter worth $29,000. LGT Financial Advisors LLC acquired a new stake in Eaton during the second quarter valued at $33,000. West Financial Advisors LLC purchased a new position in Eaton in the third quarter valued at $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of Eaton in the second quarter worth about $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ETN. Wells Fargo & Company lifted their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. UBS Group began coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $374.00 target price on shares of Eaton in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $357.83.

Insider Transactions at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 66,981 shares of company stock worth $24,100,317 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Eaton Stock Performance

NYSE ETN opened at $371.97 on Thursday. The stock has a fifty day simple moving average of $346.61 and a 200-day simple moving average of $323.89. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a market cap of $147.00 billion, a PE ratio of 39.57, a P/E/G ratio of 2.99 and a beta of 1.01. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business earned $2.47 earnings per share. Equities analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 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.