Kornitzer Capital Management Inc. KS boosted its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 22.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,714 shares of the industrial products company's stock after purchasing an additional 1,604 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Eaton were worth $2,888,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Legal & General Group Plc lifted its position in shares of Eaton by 0.6% in the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company's stock valued at $1,005,317,000 after buying an additional 18,077 shares during the last quarter. Capital World Investors increased its holdings in shares of Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company's stock valued at $998,255,000 after purchasing an additional 2,439,270 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Eaton by 15.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company's stock worth $412,108,000 after buying an additional 176,571 shares during the period. International Assets Investment Management LLC raised its holdings in Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock valued at $355,959,000 after acquiring an additional 1,070,024 shares during the period. Finally, National Pension Service boosted its holdings in shares of Eaton by 13.0% during the third quarter. National Pension Service now owns 865,820 shares of the industrial products company's stock worth $286,967,000 after acquiring an additional 99,381 shares during the period. 82.97% of the stock is owned by institutional investors.
NYSE:ETN opened at $366.77 on Friday. Eaton Co. plc has a 52 week low of $217.61 and a 52 week high of $369.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The firm's fifty day moving average is $328.30 and its 200-day moving average is $319.74. The firm has a market cap of $144.95 billion, a P/E ratio of 39.02, a P/E/G ratio of 2.66 and a beta of 1.01.
Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the prior year, the firm posted $2.47 earnings per share. The business's quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.03%. The ex-dividend date is Monday, November 4th. Eaton's dividend payout ratio (DPR) is presently 40.00%.
In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Heath B. Monesmith sold 49,040 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares of the company's stock, valued at $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company's stock, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,080 shares of company stock valued at $39,375,088 in the last quarter. 0.33% of the stock is currently owned by company insiders.
Several brokerages have weighed in on ETN. Evercore ISI dropped their price objective on shares of Eaton from $357.00 to $333.00 and set an "outperform" rating for the company in a research note on Monday, August 19th. Citigroup started coverage on shares of Eaton in a report on Monday, September 16th. They issued a "buy" rating and a $348.00 target price for the company. Raymond James lowered their price objective on shares of Eaton from $375.00 to $365.00 and set an "outperform" rating for the company in a research report on Monday, September 9th. Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Barclays dropped their price target on Eaton from $327.00 to $320.00 and set an "equal weight" rating for the company in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus target price of $343.28.
View Our Latest Stock Report on ETN
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.
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