Russell Investments Group Ltd. Has $106.79 Million Stake in Eaton Co. plc (NYSE:ETN)

Russell Investments Group Ltd. grew its holdings in Eaton Co. plc (NYSE:ETN) by 8.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 341,258 shares of the industrial products company’s stock after purchasing an additional 26,948 shares during the period. Russell Investments Group Ltd. owned about 0.09% of Eaton worth $106,791,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Verdence Capital Advisors LLC boosted its holdings in Eaton by 1.7% in the first quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company’s stock valued at $644,000 after acquiring an additional 34 shares during the last quarter. Fragasso Group Inc. boosted its holdings in Eaton by 3.6% in the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock valued at $323,000 after acquiring an additional 36 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in Eaton by 5.6% in the first quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company’s stock valued at $213,000 after acquiring an additional 36 shares during the last quarter. Wendell David Associates Inc. boosted its holdings in Eaton by 4.0% in the first quarter. Wendell David Associates Inc. now owns 936 shares of the industrial products company’s stock valued at $293,000 after acquiring an additional 36 shares during the last quarter. Finally, FinTrust Capital Advisors LLC boosted its holdings in Eaton by 2.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock worth $357,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

ETN traded up $5.43 during trading on Tuesday, hitting $332.46. The stock had a trading volume of 1,640,332 shares, compared to its average volume of 1,994,033. The company has a 50 day moving average price of $325.93 and a 200-day moving average price of $299.52. The firm has a market cap of $132.92 billion, a price-to-earnings ratio of 39.20, a P/E/G ratio of 2.78 and a beta of 1.02. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.88 EPS. As a group, research analysts predict that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were given a dividend of $0.94 per share. The ex-dividend date was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. Eaton’s payout ratio is 44.39%.

Insider Activity

In other news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the completion of the sale, the insider now directly owns 5,086 shares in the company, valued at approximately $1,687,738.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of a number of recent analyst reports. Bank of America raised their target price on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Jefferies Financial Group raised their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Barclays raised their target price on Eaton from $316.00 to $318.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. raised their target price on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, HSBC lifted their price objective on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $323.06.

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.