Eaton Co. plc (NYSE:ETN) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Eaton Co. plc (NYSE:ETN) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,422,189 shares of the industrial products company’s stock after purchasing an additional 40,078 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.36% of Eaton worth $471,370,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ETN. WealthPlan Investment Management LLC acquired a new stake in shares of Eaton in the third quarter valued at about $264,000. Patron Partners LLC lifted its stake in Eaton by 6.1% in the 3rd quarter. Patron Partners LLC now owns 2,801 shares of the industrial products company’s stock valued at $928,000 after buying an additional 160 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Eaton in the 3rd quarter worth about $295,000. Entropy Technologies LP raised its holdings in shares of Eaton by 67.5% during the third quarter. Entropy Technologies LP now owns 16,018 shares of the industrial products company’s stock valued at $5,309,000 after acquiring an additional 6,456 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of Eaton by 72.2% in the third quarter. Nations Financial Group Inc. IA ADV now owns 3,419 shares of the industrial products company’s stock valued at $1,133,000 after acquiring an additional 1,434 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other Eaton news, Director Karenann K. Terrell acquired 500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now owns 500 shares in the company, valued at $149,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eaton news, Director Karenann K. Terrell bought 500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at approximately $149,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,745 shares of company stock worth $39,278,367. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ETN. Sanford C. Bernstein began coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Evercore ISI reduced their target price 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. Wells Fargo & Company boosted their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $343.28.

Eaton Price Performance

ETN opened at $371.95 on Tuesday. The firm has a market cap of $146.99 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 2.94 and a beta of 1.01. 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 stock’s 50-day moving average price is $329.60 and its 200 day moving average price is $320.18. Eaton Co. plc has a 12-month low of $220.24 and a 12-month high of $373.39.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the business posted $2.47 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

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.