GAMMA Investing LLC Acquires 96 Shares of Eaton Corporation, PLC (NYSE:ETN)

GAMMA Investing LLC increased its holdings in Eaton Corporation, PLC (NYSE:ETN) by 0.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,219 shares of the industrial products company’s stock after buying an additional 96 shares during the period. GAMMA Investing LLC’s holdings in Eaton were worth $3,593,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank bought a new stake in Eaton during the fourth quarter valued at about $1,495,582,000. Capital International Investors purchased a new stake in shares of Eaton during the fourth quarter valued at about $523,541,000. Leigh Baldwin & CO. LLC bought a new stake in shares of Eaton in the 4th quarter valued at about $231,552,000. Janus Henderson Group PLC grew its position in shares of Eaton by 24.3% in the 4th quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company’s stock worth $998,144,000 after buying an additional 588,370 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Eaton in the 4th quarter worth approximately $145,077,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of ETN opened at $353.74 on Friday. The business’s 50-day moving average is $318.04 and its two-hundred day moving average is $312.83. The company has a market capitalization of $138.42 billion, a P/E ratio of 35.70, a P/E/G ratio of 2.70 and a beta of 1.16. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31.

Eaton (NYSE:ETN) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.40 earnings per share. Research analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Monday, May 5th. Eaton’s dividend payout ratio (DPR) is 41.98%.

Analyst Upgrades and Downgrades

ETN has been the subject of several recent analyst reports. BNP Paribas Exane assumed coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 target price for the company. Citigroup boosted their target price on Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. BNP Paribas began coverage on Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price target for the company. KeyCorp boosted their price target on Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, Barclays increased their price objective on shares of Eaton from $306.00 to $323.00 and gave the company an “equal weight” rating in a research report on Monday, June 9th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.78.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider now owns 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now owns 3,382 shares of the company’s stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 in the last three months. Company insiders own 0.30% of the company’s stock.

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.