BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $10.87 Million Position in Eaton Co. plc (NYSE:ETN)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 25.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,656 shares of the industrial products company’s stock after acquiring an additional 7,095 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Eaton were worth $10,866,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ETN. LifeSteps Financial Inc. acquired a new position in Eaton during the first quarter worth $25,000. Atwood & Palmer Inc. grew its stake in shares of Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 50 shares in the last quarter. Clear Investment Research LLC bought a new stake in shares of Eaton in the 4th quarter worth $29,000. Proffitt & Goodson Inc. bought a new stake in shares of Eaton in the 2nd quarter worth $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Eaton in the 1st quarter worth $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 2.0 %

Shares of ETN opened at $307.02 on Friday. The firm’s 50 day simple moving average is $305.37 and its 200 day simple moving average is $310.17. The company has a market capitalization of $122.75 billion, a P/E ratio of 36.25, a P/E/G ratio of 2.47 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Sell-side analysts forecast that Eaton Co. plc will post 10.66 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insiders Place Their Bets

In other Eaton news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the transaction, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ETN shares. HSBC increased their price target on shares of Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Evercore ISI cut their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Barclays increased their target price on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Royal Bank of Canada lowered their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Jefferies Financial Group increased their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $328.00.

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.