Penserra Capital Management LLC Boosts Holdings in Eaton Co. plc (NYSE:ETN)

Penserra Capital Management LLC grew its position in Eaton Co. plc (NYSE:ETN) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,116 shares of the industrial products company’s stock after acquiring an additional 43 shares during the quarter. Penserra Capital Management LLC’s holdings in Eaton were worth $699,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Strategic Wealth Partners Ltd. lifted its stake in Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD boosted its holdings in Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 30 shares during the period. Legacy Capital Group California Inc. grew its position in Eaton by 1.2% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after acquiring an additional 32 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Eaton by 2.1% in the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 32 shares during the period. Finally, Well Done LLC lifted its position in shares of Eaton by 1.3% during the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 66,981 shares of company stock worth $24,100,317. 0.33% of the stock is owned by corporate insiders.

Eaton Stock Performance

Shares of ETN stock opened at $371.97 on Thursday. Eaton Co. plc has a 12-month low of $224.52 and a 12-month high of $379.99. The business’s fifty day simple moving average is $346.61 and its 200-day simple moving average is $323.89. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market cap of $147.00 billion, a PE ratio of 39.57, a PEG ratio of 2.99 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.47 EPS. Analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

Analyst Ratings Changes

ETN has been the topic of several recent analyst reports. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Bank of America lifted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Barclays dropped their price objective on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and upped their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

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.