Quantinno Capital Management LP Buys 11,506 Shares of Eaton Co. plc (NYSE:ETN)

Quantinno Capital Management LP raised its stake in Eaton Co. plc (NYSE:ETN) by 50.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,438 shares of the industrial products company’s stock after purchasing an additional 11,506 shares during the period. Quantinno Capital Management LP’s holdings in Eaton were worth $11,414,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. IAM Advisory LLC acquired a new stake in Eaton in the 2nd quarter valued at about $599,000. Interval Partners LP increased its holdings in Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after buying an additional 68,693 shares during the last quarter. Scientech Research LLC increased its holdings in Eaton by 285.5% during the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after buying an additional 4,254 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of Eaton by 25.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock valued at $8,657,000 after purchasing an additional 5,676 shares during the last quarter. Finally, Leavell Investment Management Inc. increased its holdings in shares of Eaton by 67.6% in the second quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company’s stock valued at $2,683,000 after purchasing an additional 3,452 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ETN shares. Wells Fargo & Company upped their price objective on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. UBS Group started coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and increased their price target for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $359.67.

Insider Buying and Selling at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,981 shares of company stock worth $24,100,317. Corporate insiders own 0.53% of the company’s stock.

Eaton Price Performance

Shares of ETN opened at $371.05 on Friday. Eaton Co. plc has a 12-month low of $226.63 and a 12-month high of $379.99. The business’s fifty day moving average is $351.88 and its 200 day moving average is $325.70. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock has a market cap of $146.64 billion, a P/E ratio of 39.47, a P/E/G ratio of 2.83 and a beta of 1.03.

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

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

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.