Tredje AP fonden Purchases 4,800 Shares of Eaton Co. plc (NYSE:ETN)

Tredje AP fonden grew its position in Eaton Co. plc (NYSE:ETN) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,662 shares of the industrial products company’s stock after purchasing an additional 4,800 shares during the quarter. Tredje AP fonden’s holdings in Eaton were worth $38,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Eaton by 12.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,611 shares of the industrial products company’s stock valued at $12,106,000 after buying an additional 4,300 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its stake in Eaton by 19.1% during the second quarter. Meiji Yasuda Life Insurance Co now owns 30,838 shares of the industrial products company’s stock valued at $9,669,000 after acquiring an additional 4,936 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Eaton by 1.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 168,435 shares of the industrial products company’s stock valued at $52,813,000 after acquiring an additional 1,836 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its stake in Eaton by 97.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 2,246 shares of the industrial products company’s stock worth $704,000 after purchasing an additional 1,109 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its position in shares of Eaton by 81.8% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 16,686 shares of the industrial products company’s stock valued at $5,232,000 after purchasing an additional 7,510 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 1.7 %

Shares of NYSE ETN opened at $311.70 on Wednesday. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The stock has a 50 day moving average price of $300.17 and a 200 day moving average price of $312.08. The firm has a market capitalization of $124.62 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 2.28 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Sell-side analysts expect that Eaton Co. plc will post 10.74 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.21%. Eaton’s dividend payout ratio is presently 44.39%.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Citigroup assumed coverage on Eaton in a research report on Monday. They set a “buy” rating and a $348.00 target price for the company. Evercore ISI reduced their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company lowered their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Barclays upped their target price on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $337.41.

Insider Transactions at Eaton

In other Eaton news, Director Karenann K. Terrell purchased 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at approximately $149,485. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Karenann K. Terrell bought 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 in the last 90 days. Insiders own 0.53% of the company’s stock.

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.