First Manhattan Co. grew its holdings in Eaton Co. PLC (NYSE:ETN) by 13.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,382 shares of the industrial products company’s stock after acquiring an additional 162 shares during the period. First Manhattan Co.’s holdings in Eaton were worth $111,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 31,765,973 shares of the industrial products company’s stock valued at $2,755,064,000 after purchasing an additional 150,330 shares during the period. Vanguard Group Inc raised its position in shares of Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 31,765,973 shares of the industrial products company’s stock valued at $2,755,064,000 after purchasing an additional 150,330 shares during the period. BlackRock Inc. raised its position in shares of Eaton by 6.7% during the 4th quarter. BlackRock Inc. now owns 31,171,908 shares of the industrial products company’s stock valued at $2,140,263,000 after purchasing an additional 1,955,724 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Eaton by 8,639.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,949 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 9,564,240 shares during the period. Finally, Norges Bank bought a new stake in shares of Eaton during the 4th quarter valued at $524,126,000. Institutional investors and hedge funds own 78.15% of the company’s stock.
In other Eaton news, insider Curtis J. Hutchins sold 12,000 shares of Eaton stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $80.60, for a total value of $967,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Curtis J. Hutchins sold 37,625 shares of Eaton stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $76.02, for a total transaction of $2,860,252.50. Following the completion of the transaction, the insider now directly owns 15,872 shares of the company’s stock, valued at $1,206,589.44. The disclosure for this sale can be found here. Insiders sold a total of 73,214 shares of company stock valued at $5,709,455 over the last three months. Corporate insiders own 0.70% of the company’s stock.
Shares of NYSE ETN opened at $85.21 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.47. The firm has a market capitalization of $36.15 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 1.57 and a beta of 1.48. Eaton Co. PLC has a 52-week low of $64.46 and a 52-week high of $89.46.
Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, January 31st. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. Eaton had a net margin of 9.93% and a return on equity of 14.06%. The company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.42 billion. On average, equities analysts forecast that Eaton Co. PLC will post 5.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Saturday, March 9th were paid a $0.71 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.33%. Eaton’s payout ratio is currently 52.69%.
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Eaton Company Profile
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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