Fort Washington Investment Advisors Inc. OH Has $7.22 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,796 shares of the industrial products company’s stock after buying an additional 5,692 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Eaton were worth $7,223,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ETN. Assenagon Asset Management S.A. acquired a new position in shares of Eaton during the second quarter worth $873,000. M&G Investment Management Ltd. increased its holdings in shares of Eaton by 27.6% during the second quarter. M&G Investment Management Ltd. now owns 6,135 shares of the industrial products company’s stock worth $534,000 after buying an additional 1,326 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Eaton by 11.3% during the second quarter. Banque Cantonale Vaudoise now owns 11,954 shares of the industrial products company’s stock worth $1,047,000 after buying an additional 1,209 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Eaton by 0.4% during the second quarter. Janney Montgomery Scott LLC now owns 277,112 shares of the industrial products company’s stock worth $24,242,000 after buying an additional 1,202 shares in the last quarter. Finally, Leavell Investment Management Inc. increased its holdings in shares of Eaton by 15.6% during the second quarter. Leavell Investment Management Inc. now owns 4,934 shares of the industrial products company’s stock worth $432,000 after buying an additional 667 shares in the last quarter. Institutional investors own 77.55% of the company’s stock.

In other news, insider Craig Arnold sold 171,163 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $116.96, for a total transaction of $20,019,224.48. Following the completion of the sale, the insider now owns 391,525 shares in the company, valued at $45,792,764. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Richard H. Fearon sold 40,550 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $102.01, for a total value of $4,136,505.50. Following the sale, the insider now owns 151,834 shares of the company’s stock, valued at approximately $15,488,586.34. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Several analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of Eaton from $106.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Eaton from $111.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Barclays boosted their price objective on shares of Eaton from $95.00 to $105.00 in a research note on Thursday, November 5th. Berenberg Bank assumed coverage on shares of Eaton in a research note on Thursday, August 20th. They issued a “hold” rating and a $110.00 price objective on the stock. Finally, Oppenheimer boosted their price objective on shares of Eaton from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 4th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Eaton currently has a consensus rating of “Buy” and an average target price of $108.06.

Shares of ETN opened at $117.40 on Friday. Eaton Co. plc has a one year low of $56.42 and a one year high of $119.48. The company has a market cap of $46.80 billion, a PE ratio of 34.53, a P/E/G ratio of 2.34 and a beta of 1.11. The stock has a 50-day moving average of $108.84 and a 200-day moving average of $96.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.49 and a quick ratio of 1.11.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Sunday, November 8th. The industrial products company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.13. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Eaton had a return on equity of 11.94% and a net margin of 7.53%. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 earnings per share. Analysts expect that Eaton Co. plc will post 4.14 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 20th. Stockholders of record on Friday, November 6th were issued a dividend of $0.73 per share. The ex-dividend date was Thursday, November 5th. This represents a $2.92 annualized dividend and a dividend yield of 2.49%. Eaton’s dividend payout ratio is 51.50%.

About Eaton

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

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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