Eaton Co. plc (NYSE:ETN) Position Raised by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,621 shares of the industrial products company’s stock after acquiring an additional 71 shares during the period. Peapack Gladstone Financial Corp’s holdings in Eaton were worth $5,177,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eaton by 253.2% during the third 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. International Assets Investment Management LLC grew its position in Eaton by 27,075.5% in the 3rd 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 buying an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after buying an additional 597,700 shares in the last quarter. Wulff Hansen & CO. raised its position in shares of Eaton by 31,255.0% during the 2nd quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after buying an additional 476,639 shares in the last quarter. Finally, Electron Capital Partners LLC lifted its stake in shares of Eaton by 8,348.9% in the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock worth $140,008,000 after acquiring an additional 441,239 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,981 shares of company stock worth $24,100,317. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

ETN stock opened at $356.01 on Friday. The stock has a market cap of $140.70 billion, a P/E ratio of 37.87, a P/E/G ratio of 2.74 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The firm has a 50 day simple moving average of $355.79 and a 200 day simple moving average of $326.62. Eaton Co. plc has a 52 week low of $231.84 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results 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%. Eaton’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 EPS. Research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. Eaton’s payout ratio is 40.00%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ETN. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Raymond James lowered 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. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 price target on shares of Eaton in a report on Friday, November 1st. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company increased their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $367.83.

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.