Eaton Co. PLC (ETN) Shares Bought by Commerce Bank

Commerce Bank grew its position in Eaton Co. PLC (NYSE:ETN) by 10.0% during the 1st quarter, HoldingsChannel reports. The firm owned 370,260 shares of the industrial products company’s stock after acquiring an additional 33,555 shares during the quarter. Commerce Bank’s holdings in Eaton were worth $29,828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc raised its position in shares of Eaton by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 31,765,973 shares of the industrial products company’s stock valued at $2,755,064,000 after purchasing an additional 150,330 shares in the last quarter. BlackRock Inc. raised its position in shares of Eaton by 6.7% in the 4th quarter. BlackRock Inc. now owns 31,171,908 shares of the industrial products company’s stock valued at $2,140,263,000 after purchasing an additional 1,955,724 shares in the last quarter. Boston Partners raised its position in shares of Eaton by 40.9% in the 1st quarter. Boston Partners now owns 10,269,144 shares of the industrial products company’s stock valued at $827,282,000 after purchasing an additional 2,978,615 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Eaton by 8,639.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,949 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 9,564,240 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Eaton in the 4th quarter valued at approximately $524,126,000. 80.07% of the stock is currently owned by institutional investors and hedge funds.

In other Eaton news, Director Dorothy C. Thompson purchased 1,655 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $78.54 per share, with a total value of $129,983.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heath B. Monesmith sold 7,167 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $81.25, for a total value of $582,318.75. Following the completion of the transaction, the insider now directly owns 26,344 shares of the company’s stock, valued at approximately $2,140,450. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,589 shares of company stock valued at $2,465,553. 0.70% of the stock is owned by company insiders.

A number of brokerages have recently weighed in on ETN. Bank of America downgraded Eaton from a “buy” rating to a “neutral” rating and set a $88.00 price target for the company. in a report on Thursday, April 4th. Vertical Research upgraded Eaton from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Wells Fargo & Co boosted their price target on Eaton from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Robert W. Baird set a $89.00 price target on Eaton and gave the company a “buy” rating in a report on Saturday, February 2nd. Finally, Morgan Stanley set a $82.00 price target on Eaton and gave the company a “hold” rating in a report on Saturday, February 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $86.79.

Shares of ETN opened at $79.92 on Wednesday. The firm has a market cap of $33.18 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.53 and a beta of 1.47. The company has a quick ratio of 0.92, a current ratio of 1.47 and a debt-to-equity ratio of 0.42. Eaton Co. PLC has a 12 month low of $64.46 and a 12 month high of $89.46.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.01. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.38 billion. Eaton had a return on equity of 14.56% and a net margin of 10.06%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. On average, equities analysts forecast that Eaton Co. PLC will post 5.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 3.55%. Eaton’s payout ratio is currently 52.69%.

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Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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