MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $328.37 Million Holdings in Eaton Co. plc (NYSE:ETN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Eaton Co. plc (NYSE:ETN) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 989,455 shares of the industrial products company’s stock after buying an additional 56,900 shares during the period. Eaton accounts for approximately 0.7% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s investment portfolio, making the stock its 19th biggest position. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.25% of Eaton worth $328,371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. boosted its stake in Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after buying an additional 28 shares during the period. Westmount Partners LLC grew its position in Eaton by 3.1% during the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 30 shares during the last quarter. Signal Advisors Wealth LLC lifted its stake in Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 30 shares during the last quarter. Lantz Financial LLC boosted its position in Eaton by 4.8% during the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock valued at $219,000 after buying an additional 30 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in shares of Eaton by 2.0% during the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock valued at $544,000 after buying an additional 32 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the sale, the insider now directly owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Eaton Stock Performance

ETN stock opened at $310.01 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The company has a market cap of $121.31 billion, a P/E ratio of 32.63, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. The stock’s fifty day moving average price is $282.81 and its 200-day moving average price is $319.96.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.40 EPS. On average, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s dividend payout ratio is presently 41.98%.

Analyst Ratings Changes

Several brokerages recently weighed in on ETN. Barclays dropped their target price on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a report on Friday, April 4th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Wells Fargo & Company restated an “overweight” rating and set a $355.00 target price on shares of Eaton in a report on Monday, May 5th. Evercore ISI reduced their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a research report on Saturday. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.13.

Eaton Company 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.