Bank of Montreal Can Has $162.89 Million Holdings in Eaton Co. plc (NYSE:ETN)

Bank of Montreal Can boosted its stake in Eaton Co. plc (NYSE:ETN) by 16.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,944 shares of the industrial products company’s stock after buying an additional 68,247 shares during the quarter. Bank of Montreal Can owned approximately 0.13% of Eaton worth $162,893,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ETN. International Assets Investment Management LLC increased its position in shares of 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. Swedbank AB acquired a new stake in shares of Eaton during the second quarter worth approximately $225,974,000. Assenagon Asset Management S.A. raised its stake in shares of Eaton by 1,604.4% in the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after acquiring an additional 634,059 shares during the last quarter. Wulff Hansen & CO. boosted its holdings in shares of Eaton by 31,255.0% in the 2nd quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after acquiring an additional 476,639 shares in the last quarter. Finally, Electron Capital Partners LLC grew 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 acquiring an additional 441,239 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Down 0.2 %

Shares of Eaton stock opened at $376.56 on Tuesday. The business has a fifty day simple moving average of $344.15 and a 200 day simple moving average of $323.22. The stock has a market cap of $148.81 billion, a PE ratio of 40.06, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $379.12.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The company 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 for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 EPS. Research analysts predict that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.00%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Analyst Ratings Changes

Several brokerages have issued reports on ETN. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Mizuho boosted their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Barclays decreased their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.83.

Insider Activity

In related news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This represents a 44.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,705 shares of company stock valued at $24,516,346 in the last quarter. Company insiders own 0.33% of the company’s stock.

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.