Eaton Co. plc (NYSE:ETN) Shares Purchased by PDT Partners LLC

PDT Partners LLC increased its holdings in Eaton Co. plc (NYSE:ETN) by 35.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,703 shares of the industrial products company’s stock after buying an additional 4,903 shares during the quarter. Eaton comprises 0.5% of PDT Partners LLC’s portfolio, making the stock its 11th largest holding. PDT Partners LLC’s holdings in Eaton were worth $6,199,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Legal & General Group Plc increased its stake in shares of Eaton by 0.6% during the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after acquiring an additional 18,077 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Eaton by 2.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock worth $471,370,000 after buying an additional 40,078 shares in the last quarter. International Assets Investment Management LLC raised its holdings 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 worth $355,959,000 after acquiring an additional 1,070,024 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Eaton by 8.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 923,033 shares of the industrial products company’s stock worth $305,930,000 after purchasing an additional 74,415 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of ETN opened at $375.43 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 52-week low of $224.61 and a 52-week high of $379.99. The stock has a 50 day simple moving average of $348.37 and a 200 day simple moving average of $324.54. The firm has a market capitalization of $148.37 billion, a PE ratio of 39.94, a P/E/G ratio of 2.82 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.47 EPS. Sell-side analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Insider Transactions at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dorothy C. Thompson acquired 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 66,981 shares of company stock valued at $24,100,317 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ETN shares. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Raymond James reduced their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Finally, Citigroup initiated coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

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.