Koch Industries Inc. Purchases New Stake in Eaton Co., PLC (ETN)

Koch Industries Inc. acquired a new position in shares of Eaton Co., PLC (NYSE:ETN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 5,656 shares of the industrial products company’s stock, valued at approximately $447,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Eaton by 377.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 164,798 shares of the industrial products company’s stock worth $13,021,000 after purchasing an additional 130,300 shares during the last quarter. Truewealth LLC purchased a new stake in shares of Eaton during the 4th quarter worth $807,000. Invictus RG purchased a new stake in shares of Eaton during the 4th quarter worth $944,000. ETRADE Capital Management LLC lifted its position in shares of Eaton by 22.6% during the 4th quarter. ETRADE Capital Management LLC now owns 10,732 shares of the industrial products company’s stock worth $848,000 after purchasing an additional 1,977 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Eaton during the 4th quarter worth $65,378,000. 76.73% of the stock is owned by institutional investors and hedge funds.

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Shares of Eaton Co., PLC (NYSE ETN) opened at $83.14 on Friday. Eaton Co., PLC has a one year low of $69.82 and a one year high of $89.85. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.13 and a current ratio of 1.64. The company has a market cap of $36,600.00, a price-to-earnings ratio of 12.39, a P/E/G ratio of 2.00 and a beta of 1.36.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. Eaton had a net margin of 14.60% and a return on equity of 12.84%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period last year, the business earned $1.12 EPS. Eaton’s revenue for the quarter was up 7.1% compared to the same quarter last year. analysts predict that Eaton Co., PLC will post 5.15 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Monday, March 12th will be paid a $0.66 dividend. The ex-dividend date is Friday, March 9th. This is a positive change from Eaton’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 3.18%. Eaton’s payout ratio is currently 35.77%.

ETN has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Eaton from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. UBS Group initiated coverage on shares of Eaton in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $87.00 price objective for the company. JPMorgan Chase & Co. raised shares of Eaton from an “underweight” rating to a “neutral” rating and set a $82.00 price objective for the company in a research report on Thursday, March 1st. Robert W. Baird raised shares of Eaton from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $82.00 to $92.00 in a research report on Wednesday, January 3rd. Finally, Argus raised shares of Eaton to a “buy” rating and lifted their price objective for the stock from $85.00 to $90.00 in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $88.20.

In other Eaton news, insider Ken D. Semelsberger sold 15,595 shares of Eaton stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $82.67, for a total value of $1,289,238.65. Following the transaction, the insider now directly owns 104,613 shares in the company, valued at $8,648,356.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.80% of the company’s stock.

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Eaton Profile

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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