MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys 742 Shares of Eaton Co. plc (NYSE:ETN)

by · The Markets Daily

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 251.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,037 shares of the industrial products company’s stock after acquiring an additional 742 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Eaton were worth $344,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Legal & General Group Plc increased its position in Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after buying an additional 18,077 shares during the period. Capital World Investors increased its position in Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after acquiring an additional 2,439,270 shares during the period. Janus Henderson Group PLC raised its stake in Eaton by 15.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after purchasing an additional 176,571 shares in the last quarter. Jennison Associates LLC boosted its holdings in Eaton by 2,857.4% in 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 purchasing an additional 1,219,790 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in shares of Eaton by 61.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 790,182 shares of the industrial products company’s stock worth $247,074,000 after purchasing an additional 300,689 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 1.3 %

Shares of NYSE ETN opened at $345.88 on Tuesday. The company has a 50 day simple moving average of $309.18 and a 200 day simple moving average of $315.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.94. The firm has a market cap of $138.28 billion, a PE ratio of 40.84, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, research analysts forecast that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.09%. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Analyst Ratings Changes

ETN has been the subject of several recent research reports. Barclays boosted their price target on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Evercore ISI cut their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Morgan Stanley assumed coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Finally, Jefferies Financial Group upped their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average price target of $339.47.

Get Our Latest Analysis on Eaton

Insider Transactions at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. 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 three months. 0.53% of the stock is owned by company insiders.

Eaton Profile

(Free Report)

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.

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