Empirical Asset Management LLC Has $35.45 Million Position in Eaton Co. plc (NYSE:ETN)

Empirical Asset Management LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 307.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 106,827 shares of the industrial products company’s stock after purchasing an additional 80,606 shares during the period. Eaton makes up approximately 1.0% of Empirical Asset Management LLC’s holdings, making the stock its 20th largest position. Empirical Asset Management LLC’s holdings in Eaton were worth $35,453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after purchasing an additional 1,629,856 shares during the period. International Assets Investment Management LLC grew its position in Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after buying an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC increased its stake in Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after acquiring an additional 597,700 shares during the period. Electron Capital Partners LLC raised its holdings in Eaton by 8,348.9% in the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock valued at $140,008,000 after acquiring an additional 441,239 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Eaton in the 3rd quarter worth approximately $137,794,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 over the last 90 days. 0.33% of the stock is owned by insiders.

Eaton Stock Performance

Eaton stock opened at $345.02 on Friday. The stock has a 50-day simple moving average of $355.04 and a 200 day simple moving average of $329.43. The stock has a market capitalization of $136.35 billion, a price-to-earnings ratio of 36.70, a P/E/G ratio of 2.27 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $236.04 and a 12-month high of $379.99.

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

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ETN shares. Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday. Mizuho raised their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and lifted their target price for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Sanford C. Bernstein started coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $368.89.

Eaton 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.