Eaton Co. plc (NYSE:ETN) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 102,675 shares of the industrial products company’s stock after purchasing an additional 2,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Eaton were worth $15,330,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Rosenberg Matthew Hamilton boosted its stake in shares of Eaton by 52.1% in the third quarter. Rosenberg Matthew Hamilton now owns 251 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 86 shares during the period. Tompkins Financial Corp bought a new position in Eaton in the 3rd quarter valued at about $37,000. American National Bank bought a new position in shares of Eaton during the 3rd quarter valued at about $39,000. Jones Financial Companies Lllp boosted its position in shares of Eaton by 163.2% during the 2nd quarter. Jones Financial Companies Lllp now owns 300 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 186 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of Eaton in the third quarter worth about $62,000. 77.54% of the stock is owned by hedge funds and other institutional investors.

ETN has been the topic of several recent research reports. Mizuho began coverage on shares of Eaton in a research report on Thursday, December 16th. They set a “buy” rating and a $200.00 price objective on the stock. Citigroup lifted their price objective on Eaton from $180.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, October 12th. Wells Fargo & Company lifted their price target on Eaton from $159.00 to $173.00 and gave the company an “equal weight” rating in a report on Wednesday, November 3rd. Barclays boosted their price objective on Eaton from $163.00 to $170.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 3rd. Finally, Royal Bank of Canada boosted their price objective on Eaton from $152.00 to $153.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 3rd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $173.67.

In related news, insider Craig Arnold sold 127,559 shares of the business’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $171.38, for a total transaction of $21,861,061.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Uday Yadav sold 49,580 shares of the business’s stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $174.32, for a total value of $8,642,785.60. The disclosure for this sale can be found here. Insiders have sold 183,051 shares of company stock worth $31,507,939 over the last quarter. 0.53% of the stock is currently owned by corporate insiders.

Shares of Eaton stock opened at $170.92 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.79 and a current ratio of 1.27. Eaton Co. plc has a 52 week low of $114.01 and a 52 week high of $175.72. The stock has a 50 day moving average price of $169.57 and a two-hundred day moving average price of $163.06. The stock has a market capitalization of $68.13 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 2.10 and a beta of 1.19.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Monday, November 1st. The industrial products company reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.02. The firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Eaton had a return on equity of 16.14% and a net margin of 10.60%. During the same quarter last year, the firm posted $1.18 earnings per share. Research analysts forecast that Eaton Co. plc will post 6.63 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 30th. Investors of record on Friday, November 12th were issued a dividend of $0.76 per share. The ex-dividend date was Wednesday, November 10th. This represents a $3.04 dividend on an annualized basis and a yield of 1.78%. Eaton’s dividend payout ratio (DPR) is currently 59.03%.

About Eaton

Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segment engages in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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