Eaton Co. plc (NYSE:ETN) Shares Purchased by Dakota Wealth Management

Dakota Wealth Management raised its holdings in Eaton Co. plc (NYSE:ETN) by 147.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,425 shares of the industrial products company’s stock after acquiring an additional 27,094 shares during the period. Dakota Wealth Management’s holdings in Eaton were worth $15,056,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ETN. Capital World Investors increased its holdings in shares of Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after purchasing an additional 2,439,270 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Eaton by 2,857.4% during the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after acquiring an additional 1,219,790 shares during the last quarter. International Assets Investment Management LLC boosted 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 valued at $355,959,000 after acquiring an additional 1,070,024 shares during the last quarter. Swedbank AB acquired a new stake in Eaton during the second quarter worth about $225,974,000. Finally, Assenagon Asset Management S.A. raised its stake in Eaton by 1,604.4% during the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after purchasing an additional 634,059 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 in the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Up 0.1 %

Eaton stock opened at $345.17 on Friday. The firm has a market capitalization of $138.00 billion, a P/E ratio of 40.75, a P/E/G ratio of 2.58 and a beta of 1.02. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a twelve month low of $193.77 and a twelve month high of $349.74. The stock’s fifty day simple moving average is $317.08 and its 200-day simple moving average is $317.12.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, equities analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Eaton’s dividend payout ratio is currently 44.39%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ETN. Wells Fargo & Company increased their price target on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Raymond James cut their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Barclays increased their price target on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Morgan Stanley assumed coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Finally, Citigroup began coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 target price for the company. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $340.06.

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.