Gotham Asset Management LLC Purchases 5,308 Shares of Eaton Co. plc (NYSE:ETN)

Gotham Asset Management LLC raised its position in shares of Eaton Co. plc (NYSE:ETN) by 12.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,904 shares of the industrial products company’s stock after acquiring an additional 5,308 shares during the quarter. Gotham Asset Management LLC’s holdings in Eaton were worth $15,566,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Eaton by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock worth $12,351,506,000 after purchasing an additional 99,291 shares in the last quarter. FMR LLC grew its holdings in Eaton by 1.2% during the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company’s stock worth $5,051,807,000 after buying an additional 182,455 shares in the last quarter. Geode Capital Management LLC raised its position in Eaton by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock valued at $2,714,677,000 after buying an additional 129,071 shares during the last quarter. Northern Trust Corp grew its stake in shares of Eaton by 8.8% in the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock worth $1,518,207,000 after acquiring an additional 368,241 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Eaton in the 4th quarter worth $1,495,582,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Up 1.0 %

Shares of ETN stock opened at $310.01 on Friday. The company has a market capitalization of $121.31 billion, a PE ratio of 32.63, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The business’s fifty day moving average is $282.81 and its 200 day moving average is $320.13. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $2.40 EPS. On average, equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s dividend payout ratio (DPR) is currently 41.98%.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the sale, the insider now owns 489,444 shares of the company’s stock, valued at $149,490,880.92. The trade was a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

ETN has been the subject of a number of recent analyst reports. KeyCorp upped their price objective on shares of Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Evercore ISI dropped their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Jefferies Financial Group lowered their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Finally, Citigroup raised their price objective on shares of Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $361.13.

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.