Deltec Asset Management LLC Purchases Shares of 4,100 Eaton Co. plc (NYSE:ETN)

Deltec Asset Management LLC acquired a new position in Eaton Co. plc (NYSE:ETN) in the third quarter, HoldingsChannel reports. The firm acquired 4,100 shares of the industrial products company’s stock, valued at approximately $1,359,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ETN. Capital World Investors grew its stake in shares of Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares during the last quarter. Jennison Associates LLC lifted its position in Eaton by 2,857.4% in the first 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 last quarter. International Assets Investment Management LLC boosted its stake in shares of Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after purchasing an additional 1,070,024 shares during the period. Swedbank AB bought a new position in shares of Eaton in the second quarter worth approximately $225,974,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Eaton by 1,604.4% in the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after buying an additional 634,059 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley began coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Royal Bank of Canada lowered their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Mizuho increased their price target on shares of Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Raymond James reduced their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Finally, Jefferies Financial Group raised their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Eaton Trading Up 0.0 %

Shares of NYSE:ETN opened at $345.55 on Wednesday. Eaton Co. plc has a 12-month low of $196.12 and a 12-month high of $349.74. The company has a market cap of $137.56 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The stock has a 50 day moving average of $320.85 and a 200 day moving average of $317.88. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. As a group, equities research analysts expect that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s payout ratio is 41.36%.

Insider Buying and Selling at Eaton

In related news, Director Dorothy C. Thompson acquired 2,205 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.33% 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.