Eaton Co. plc (NYSE:ETN) Shares Acquired by Gemmer Asset Management LLC

Gemmer Asset Management LLC lifted its holdings in Eaton Co. plc (NYSE:ETN) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,072 shares of the industrial products company’s stock after acquiring an additional 51 shares during the quarter. Gemmer Asset Management LLC’s holdings in Eaton were worth $1,020,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ETN. Edgestream Partners L.P. raised its position in Eaton by 98.5% during the second quarter. Edgestream Partners L.P. now owns 1,989 shares of the industrial products company’s stock valued at $624,000 after acquiring an additional 987 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Eaton during the 2nd quarter valued at approximately $270,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Eaton by 1.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,045 shares of the industrial products company’s stock valued at $3,150,000 after purchasing an additional 116 shares during the period. King Luther Capital Management Corp boosted its holdings in Eaton by 19.4% during the second quarter. King Luther Capital Management Corp now owns 3,327 shares of the industrial products company’s stock worth $1,043,000 after buying an additional 541 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in Eaton by 4.7% during the second quarter. Pacer Advisors Inc. now owns 32,897 shares of the industrial products company’s stock valued at $10,315,000 after buying an additional 1,483 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

ETN has been the subject of a number of analyst reports. Mizuho upped their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Bank of America raised their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada upped their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company dropped their price target on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $368.89.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,981 shares of company stock valued at $27,660,117. 0.33% of the stock is owned by company insiders.

Eaton Stock Up 0.4 %

ETN stock opened at $346.54 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average of $354.32 and a two-hundred day moving average of $329.89. Eaton Co. plc has a 12 month low of $236.20 and a 12 month high of $379.99. The company has a market cap of $136.95 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 2.27 and a beta of 1.06.

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

Eaton Announces Dividend

The company also recently declared 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 of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Eaton’s payout ratio is 40.00%.

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.