Baldwin Investment Management LLC Has $3.41 Million Stake in Eaton Co. plc (NYSE:ETN)

Baldwin Investment Management LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 5.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,287 shares of the industrial products company’s stock after buying an additional 539 shares during the quarter. Baldwin Investment Management LLC’s holdings in Eaton were worth $3,410,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after acquiring an additional 1,070,024 shares during the last quarter. Swedbank AB bought a new position in shares of Eaton during the second quarter valued at about $225,974,000. Assenagon Asset Management S.A. boosted its holdings in Eaton by 1,604.4% during the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after purchasing an additional 634,059 shares during the last quarter. Wulff Hansen & CO. grew its position in Eaton by 31,255.0% in the 2nd quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after purchasing an additional 476,639 shares in the last quarter. Finally, Electron Capital Partners LLC increased its stake in Eaton by 8,348.9% in the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock valued at $140,008,000 after buying an additional 441,239 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,117 shares of company stock worth $25,050,901 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $377.23 on Wednesday. The firm’s 50 day moving average is $345.46 and its 200 day moving average is $323.55. The stock has a market capitalization of $149.08 billion, a P/E ratio of 40.13, a PEG ratio of 2.99 and a beta of 1.01. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.47 earnings per share. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s payout ratio is presently 40.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ETN shares. Raymond James cut their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Citigroup started coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company boosted their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Barclays decreased their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus price target of $357.83.

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.