Industrial Alliance Investment Management Inc. Has $1.34 Million Stake in Eaton Co. plc (NYSE:ETN)

Industrial Alliance Investment Management Inc. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,286 shares of the industrial products company’s stock after buying an additional 142 shares during the quarter. Eaton comprises approximately 0.6% of Industrial Alliance Investment Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Industrial Alliance Investment Management Inc.’s holdings in Eaton were worth $1,340,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Verdence Capital Advisors LLC grew its stake in shares of Eaton by 1.7% in the first quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company’s stock valued at $644,000 after acquiring an additional 34 shares in the last quarter. Fragasso Group Inc. grew its stake in Eaton by 3.6% during the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock worth $323,000 after buying an additional 36 shares in the last quarter. Valley National Advisers Inc. grew its stake in Eaton by 5.6% during the first quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company’s stock worth $213,000 after buying an additional 36 shares in the last quarter. Wendell David Associates Inc. grew its stake in Eaton by 4.0% during the first quarter. Wendell David Associates Inc. now owns 936 shares of the industrial products company’s stock worth $293,000 after buying an additional 36 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its stake in Eaton by 2.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock worth $357,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Down 3.2 %

Shares of NYSE ETN traded down $9.39 during midday trading on Tuesday, reaching $287.22. The stock had a trading volume of 4,776,463 shares, compared to its average volume of 2,088,127. The firm has a market cap of $114.83 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 2.49 and a beta of 1.02. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The company’s 50 day moving average price is $321.57 and its 200 day moving average price is $304.51.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 EPS. As a group, sell-side analysts expect that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.31%. Eaton’s dividend payout ratio is currently 44.39%.

Analyst Ratings Changes

ETN has been the topic of a number of analyst reports. Mizuho reiterated a “buy” rating and set a $355.00 price objective (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. HSBC increased their target price on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Argus increased their target price on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Wolfe Research reissued an “underperform” rating and issued a $312.00 target price on shares of Eaton in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $323.06.

Insider Transactions at Eaton

In related news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

Eaton Company 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.