V Square Quantitative Management LLC Raises Holdings in Eaton Co. plc (NYSE:ETN)

V Square Quantitative Management LLC lifted its holdings in Eaton Co. plc (NYSE:ETN) by 1.2% in the third quarter, Holdings Channel reports. The fund owned 6,540 shares of the industrial products company’s stock after purchasing an additional 75 shares during the quarter. V Square Quantitative Management LLC’s holdings in Eaton were worth $2,168,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ETN. Norden Group LLC acquired a new position in shares of Eaton during the first quarter worth $2,176,000. Griffin Asset Management Inc. acquired a new position in shares of Eaton during the 1st quarter worth about $813,000. IAM Advisory LLC acquired a new stake in Eaton in the 2nd quarter valued at about $599,000. Envestnet Portfolio Solutions Inc. raised its holdings in Eaton by 19.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after acquiring an additional 12,689 shares during the last quarter. Finally, Interval Partners LP raised its holdings in Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after acquiring an additional 68,693 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

NYSE:ETN traded down $2.26 during trading hours on Friday, reaching $346.23. 152,942 shares of the company’s stock were exchanged, compared to its average volume of 2,109,839. The business’s 50-day simple moving average is $312.88 and its two-hundred day simple moving average is $316.41. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $349.74. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $138.42 billion, a P/E ratio of 40.99, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s dividend payout ratio is 44.39%.

Insiders Place Their Bets

In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 over the last quarter. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup began coverage on shares of Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price target for the company. Wells Fargo & Company raised their price target on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Evercore ISI decreased their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Royal Bank of Canada cut their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Morgan Stanley began coverage on shares of Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $340.06.

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.