ING Groep NV Has $20.77 Million Holdings in Eaton Co. plc (NYSE:ETN)

ING Groep NV increased its holdings in shares of Eaton Co. plc (NYSE:ETNFree Report) by 210.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 86,265 shares of the industrial products company’s stock after purchasing an additional 58,474 shares during the period. ING Groep NV’s holdings in Eaton were worth $20,774,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ETN. FMR LLC lifted its position in shares of Eaton by 36.0% during the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after purchasing an additional 5,270,331 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Eaton during the 3rd quarter worth about $340,500,000. Deutsche Bank AG increased its stake in Eaton by 97.5% during the third quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after acquiring an additional 918,422 shares during the period. Artisan Partners Limited Partnership bought a new position in Eaton during the third quarter valued at about $67,305,000. Finally, International Assets Investment Management LLC increased its stake in Eaton by 21,664.8% during the fourth quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock valued at $76,157,000 after acquiring an additional 314,789 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the sale, the insider now directly owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the sale, the insider now directly owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,174 shares of company stock valued at $5,098,000. Company insiders own 0.53% of the company’s stock.

Eaton Price Performance

NYSE ETN traded up $0.06 during trading hours on Friday, reaching $330.24. 1,881,539 shares of the company’s stock were exchanged, compared to its average volume of 2,429,416. The stock has a market cap of $132.03 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 2.60 and a beta of 1.06. Eaton Co. plc has a one year low of $167.33 and a one year high of $338.88. The firm has a fifty day moving average of $316.38 and a 200-day moving average of $271.53. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETNGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. Eaton’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.88 EPS. On average, equities research analysts predict that Eaton Co. plc will post 10.51 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.14%. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Mizuho restated a “buy” rating and set a $355.00 price target (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Argus boosted their price target on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Bank of America boosted their price target on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Citigroup boosted their price target on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, UBS Group upped their price objective on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

View Our Latest Analysis on Eaton

Eaton Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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