PGGM Investments Has $818,000 Stock Position in Eaton Co. plc (NYSE:ETN)

PGGM Investments lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 48.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,396 shares of the industrial products company’s stock after selling 3,139 shares during the quarter. PGGM Investments’ holdings in Eaton were worth $818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of Eaton during the 4th quarter worth approximately $25,000. Valued Wealth Advisors LLC bought a new position in Eaton in the fourth quarter valued at about $35,000. Chilton Capital Management LLC acquired a new position in Eaton during the fourth quarter worth about $35,000. Authentikos Wealth Advisory LLC bought a new position in shares of Eaton in the third quarter worth about $39,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Eaton in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $326.84 on Tuesday. The firm has a market capitalization of $130.57 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07. The firm has a fifty day simple moving average of $305.81 and a two-hundred day simple moving average of $259.67. Eaton Co. plc has a 12 month low of $165.24 and a 12 month high of $331.47. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the company earned $2.06 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts forecast that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.15%. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Insider Activity at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eaton news, insider Peter Denk sold 1,731 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock valued at $10,904,774 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Mizuho increased their price objective on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Berenberg Bank upped their target price on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $286.00 to $371.00 in a report on Friday, April 5th. The Goldman Sachs Group raised their price objective on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Evercore ISI upped their price target on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $295.60.

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.