Eaton Co. plc (NYSE:ETN) Position Raised by Maverick Capital Ltd.

Maverick Capital Ltd. increased its position in shares of Eaton Co. plc (NYSE:ETN) by 403.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,553 shares of the industrial products company’s stock after purchasing an additional 10,058 shares during the period. Maverick Capital Ltd.’s holdings in Eaton were worth $4,161,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. LRI Investments LLC bought a new position in shares of Eaton in the first quarter valued at $66,000. EverSource Wealth Advisors LLC increased its holdings in shares of Eaton by 14.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,230 shares of the industrial products company’s stock valued at $392,000 after buying an additional 158 shares in the last quarter. Old Port Advisors bought a new position in shares of Eaton in the first quarter valued at $226,000. Park Place Capital Corp increased its holdings in shares of Eaton by 4.8% in the second quarter. Park Place Capital Corp now owns 5,020 shares of the industrial products company’s stock valued at $1,574,000 after buying an additional 232 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Eaton by 20.2% in the second quarter. GAMMA Investing LLC now owns 7,438 shares of the industrial products company’s stock valued at $2,332,000 after buying an additional 1,251 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ETN. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Barclays reduced their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Raymond James reduced their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Finally, Wells Fargo & Company increased their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.83.

Eaton Stock Performance

Shares of NYSE:ETN opened at $375.43 on Friday. Eaton Co. plc has a twelve month low of $224.61 and a twelve month high of $379.99. The firm has a market cap of $148.37 billion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 2.82 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The business has a fifty day moving average of $348.37 and a 200-day moving average of $324.54.

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

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.00%. Eaton’s payout ratio is currently 40.00%.

Insider Transactions at Eaton

In other 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 transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,981 shares of company stock worth $24,100,317. 0.53% of the stock is currently owned by company insiders.

About Eaton

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.