Impax Asset Management Group plc Has $3.95 Million Holdings in Eaton Corporation, PLC (NYSE:ETN)

Impax Asset Management Group plc raised its position in Eaton Corporation, PLC (NYSE:ETN) by 126.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 14,539 shares of the industrial products company’s stock after acquiring an additional 8,132 shares during the period. Impax Asset Management Group plc’s holdings in Eaton were worth $3,952,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Founders Financial Alliance LLC boosted its position in shares of Eaton by 0.7% during the fourth quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company’s stock valued at $1,797,000 after buying an additional 35 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Eaton by 0.7% during the first quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company’s stock valued at $1,378,000 after buying an additional 37 shares during the last quarter. Sound View Wealth Advisors Group LLC boosted its position in shares of Eaton by 1.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company’s stock valued at $1,190,000 after buying an additional 38 shares during the last quarter. Lantern Wealth Advisors LLC boosted its position in shares of Eaton by 1.0% during the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company’s stock valued at $1,340,000 after buying an additional 38 shares during the last quarter. Finally, AGH Wealth Advisors LLC boosted its position in shares of Eaton by 2.6% during the first quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company’s stock valued at $412,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $361.98 on Friday. The firm has a market cap of $141.64 billion, a PE ratio of 36.53, a PEG ratio of 2.73 and a beta of 1.17. The stock’s fifty day moving average price is $326.36 and its two-hundred day moving average price is $312.79. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 earnings per share. On average, equities research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.15%. Eaton’s payout ratio is presently 41.98%.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 103,486 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider directly owned 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider owned 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ETN has been the topic of several analyst reports. BNP Paribas Exane initiated coverage on Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price on the stock. Wall Street Zen raised Eaton from a “hold” rating to a “buy” rating in a research report on Saturday. Jefferies Financial Group dropped their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Citigroup lifted their price target on Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Finally, Morgan Stanley dropped their price target on Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $369.06.

Eaton 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.