Eaton Co. plc (NYSE:ETN) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 631,069 shares of the industrial products company’s stock after purchasing an additional 8,484 shares during the quarter. Eaton comprises 0.6% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 27th largest position. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.16% of Eaton worth $151,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new stake in shares of Eaton during the 4th quarter worth $25,000. PCA Investment Advisory Services Inc. bought a new stake in shares of Eaton during the 2nd quarter worth $27,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Eaton during the 4th quarter worth $30,000. Global Trust Asset Management LLC bought a new stake in shares of Eaton during the 3rd quarter worth $32,000. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter valued at $35,000. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the sale, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Eaton news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,969 shares of company stock worth $10,904,774. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Wells Fargo & Company raised their target price on Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a report on Tuesday, December 19th. Mizuho raised their target price on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Citigroup raised their target price on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $295.60.

Eaton Stock Performance

ETN stock traded up $0.07 during trading on Tuesday, reaching $315.35. 1,547,242 shares of the stock were exchanged, compared to its average volume of 1,888,934. Eaton Co. plc has a twelve month low of $161.12 and a twelve month high of $331.47. The company has a market capitalization of $125.98 billion, a P/E ratio of 39.58, a price-to-earnings-growth ratio of 2.65 and a beta of 1.07. The stock has a 50 day simple moving average of $297.85 and a 200-day simple moving average of $252.41. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 earnings per share. As a group, sell-side analysts anticipate that Eaton Co. plc will post 10.25 earnings per share for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were paid a $0.94 dividend. The ex-dividend date was Friday, March 8th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.19%. This is a boost from Eaton’s previous quarterly dividend of $0.86. Eaton’s payout ratio is 46.88%.

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.