Assetmark Inc. Has $2.34 Million Stake in Eaton Co. plc (NYSE:ETN)

Assetmark Inc. increased its stake in shares of Eaton Co. plc (NYSE:ETNGet Rating) by 40.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,568 shares of the industrial products company’s stock after acquiring an additional 5,093 shares during the period. Assetmark Inc.’s holdings in Eaton were worth $2,343,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. First Hawaiian Bank raised its holdings in shares of Eaton by 0.8% in the third quarter. First Hawaiian Bank now owns 9,250 shares of the industrial products company’s stock valued at $1,234,000 after purchasing an additional 70 shares during the last quarter. Key Financial Inc raised its holdings in shares of Eaton by 8.8% in the third quarter. Key Financial Inc now owns 956 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 77 shares during the last quarter. Resources Investment Advisors LLC. raised its holdings in shares of Eaton by 3.4% in the second quarter. Resources Investment Advisors LLC. now owns 2,387 shares of the industrial products company’s stock valued at $301,000 after purchasing an additional 78 shares during the last quarter. IVC Wealth Advisors LLC raised its holdings in shares of Eaton by 1.6% in the third quarter. IVC Wealth Advisors LLC now owns 4,937 shares of the industrial products company’s stock valued at $658,000 after purchasing an additional 78 shares during the last quarter. Finally, Heartland Bank & Trust Co grew its position in Eaton by 2.0% during the second quarter. Heartland Bank & Trust Co now owns 4,065 shares of the industrial products company’s stock valued at $512,000 after buying an additional 81 shares during the period. 80.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ETN shares. Barclays increased their price target on shares of Eaton from $124.00 to $130.00 and gave the company an “underweight” rating in a research report on Thursday, January 5th. Wells Fargo & Company increased their price target on shares of Eaton from $157.00 to $163.00 and gave the company an “equal weight” rating in a research report on Thursday, January 5th. StockNews.com upgraded shares of Eaton from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 12th. Mizuho increased their price target on shares of Eaton from $160.00 to $168.00 and gave the company a “buy” rating in a research report on Friday. Finally, Credit Suisse Group increased their price target on shares of Eaton from $157.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $163.42.

Eaton Price Performance

Shares of NYSE:ETN opened at $164.45 on Tuesday. The company has a 50 day moving average of $160.38 and a 200 day moving average of $147.68. The stock has a market cap of $65.40 billion, a P/E ratio of 28.75, a P/E/G ratio of 1.83 and a beta of 1.16. Eaton Co. plc has a 12 month low of $122.50 and a 12 month high of $171.71. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 0.50.

Eaton (NYSE:ETNGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The industrial products company reported $2.02 EPS for the quarter, beating the consensus estimate of $2.01 by $0.01. Eaton had a net margin of 11.36% and a return on equity of 17.66%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, sell-side analysts forecast that Eaton Co. plc will post 7.56 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Thursday, November 10th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $3.24 annualized dividend and a yield of 1.97%. Eaton’s payout ratio is presently 56.64%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Brian S. Brickhouse sold 27,438 shares of Eaton stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $155.76, for a total transaction of $4,273,742.88. Following the completion of the sale, the insider now directly owns 28,131 shares in the company, valued at $4,381,684.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.56% of the stock is currently owned by company insiders.

Eaton Profile

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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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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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