J. Stern & Co. LLP Has $67.94 Million Stock Position in Eaton Co. plc (NYSE:ETN)

J. Stern & Co. LLP boosted its stake in Eaton Co. plc (NYSE:ETN) by 3.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 204,983 shares of the industrial products company’s stock after buying an additional 6,565 shares during the period. Eaton accounts for 7.2% of J. Stern & Co. LLP’s portfolio, making the stock its 3rd biggest holding. J. Stern & Co. LLP owned about 0.05% of Eaton worth $67,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Eaton by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 576,657 shares of the industrial products company’s stock valued at $180,310,000 after purchasing an additional 8,153 shares in the last quarter. Ascent Group LLC bought a new stake in Eaton during the first quarter worth approximately $231,000. Bayesian Capital Management LP acquired a new position in Eaton in the first quarter worth approximately $600,000. Dynasty Wealth Management LLC bought a new position in shares of Eaton in the first quarter valued at $1,007,000. Finally, Castleark Management LLC boosted its stake in shares of Eaton by 181.7% during the 1st quarter. Castleark Management LLC now owns 38,245 shares of the industrial products company’s stock worth $11,958,000 after acquiring an additional 24,670 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 0.3 %

Shares of Eaton stock traded up $1.28 during midday trading on Tuesday, reaching $377.96. 221,186 shares of the company’s stock traded hands, compared to its average volume of 2,103,470. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a market cap of $149.37 billion, a price-to-earnings ratio of 40.06, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01. Eaton Co. plc has a 52 week low of $224.52 and a 52 week high of $379.60. The company’s 50 day simple moving average is $344.15 and its 200 day simple moving average is $323.22.

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

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is 40.00%.

Insider Buying and Selling

In related news, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. This trade represents a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,705 shares of company stock valued at $24,516,346. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Bank of America upped their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Mizuho lifted their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price target on shares of Eaton in a report on Friday, November 1st. Wells Fargo & Company raised their price objective on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

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.