Tidal Investments LLC Has $9.85 Million Position in Eaton Co. plc (NYSE:ETN)

Tidal Investments LLC grew its position in Eaton Co. plc (NYSE:ETN) by 68.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,722 shares of the industrial products company’s stock after buying an additional 12,069 shares during the quarter. Tidal Investments LLC’s holdings in Eaton were worth $9,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC increased its position in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after purchasing an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC increased its position in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares in the last quarter. Wulff Hansen & CO. increased its position in Eaton by 31,255.0% during the 2nd quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after purchasing an additional 476,639 shares in the last quarter. Finally, Electron Capital Partners LLC increased its position in Eaton by 8,348.9% during the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock worth $140,008,000 after purchasing an additional 441,239 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Craig Arnold sold 61,569 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,981 shares of company stock valued at $24,100,317 over the last ninety days. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ETN. Wells Fargo & Company upped their price objective on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research report on Friday, November 1st. Bank of America upped their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. UBS Group started coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Finally, Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $367.83.

Eaton Trading Down 0.9 %

NYSE:ETN opened at $358.71 on Friday. The firm’s fifty day moving average is $355.33 and its 200-day moving average is $326.59. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 52 week low of $231.84 and a 52 week high of $379.99. The firm has a market cap of $141.76 billion, a P/E ratio of 38.16, a P/E/G ratio of 2.74 and a beta of 1.03.

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

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.05%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

Eaton 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.