Vinva Investment Management Ltd Grows Holdings in Eaton Co. plc (NYSE:ETN)

Vinva Investment Management Ltd raised its position in Eaton Co. plc (NYSE:ETN) by 52.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,117 shares of the industrial products company’s stock after buying an additional 6,244 shares during the period. Vinva Investment Management Ltd’s holdings in Eaton were worth $5,951,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETN. Breakwater Investment Management boosted its position in Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new position in shares of Eaton in the 2nd quarter worth about $29,000. LGT Financial Advisors LLC bought a new position in Eaton during the second quarter valued at about $33,000. West Financial Advisors LLC purchased a new stake in Eaton during the third quarter worth about $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in Eaton in the second quarter worth about $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares in the company, valued at $662,161.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value 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. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,981 shares of company stock valued at $24,100,317. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

ETN has been the subject of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Wells Fargo & Company boosted their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and upped their price target for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, Morgan Stanley started coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Price Performance

Shares of ETN opened at $371.97 on Thursday. The firm’s 50-day simple moving average is $346.61 and its two-hundred day simple moving average is $323.89. Eaton Co. plc has a fifty-two week low of $224.52 and a fifty-two week high of $379.99. The stock has a market cap of $147.00 billion, a PE ratio of 39.57, a price-to-earnings-growth ratio of 2.99 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.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the business posted $2.47 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. Analysts anticipate 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. Investors of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. 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.