Eaton Co. plc (NYSE:ETN) Stock Holdings Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its position in Eaton Co. plc (NYSE:ETN) by 38.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,150 shares of the industrial products company’s stock after buying an additional 11,098 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Eaton were worth $13,187,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ETN. Breakwater Investment Management increased its holdings in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new stake in shares of Eaton during the second quarter worth $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Eaton during the first quarter valued at $33,000. LGT Financial Advisors LLC acquired a new position in shares of Eaton in the 2nd quarter valued at $33,000. Finally, West Financial Advisors LLC purchased a new position in Eaton in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ETN. Raymond James decreased their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Barclays lifted their price objective on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Evercore ISI lowered their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Finally, Wells Fargo & Company increased their price objective on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $340.06.

Eaton Stock Down 0.2 %

ETN stock opened at $344.49 on Monday. Eaton Co. plc has a 1 year low of $193.77 and a 1 year high of $349.74. The company has a fifty day simple moving average of $318.89 and a 200 day simple moving average of $317.49. The firm has a market cap of $137.14 billion, a PE ratio of 37.90, a PEG ratio of 2.62 and a beta of 1.02. 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 issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Sell-side analysts anticipate that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

The company 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 $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Eaton’s payout ratio is presently 41.36%.

Insider Buying and Selling

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Karenann K. Terrell bought 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the purchase, the director now directly owns 500 shares in the company, valued at $149,485. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 in the last quarter. 0.53% of the stock is currently owned by company insiders.

About Eaton

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.