Munich Reinsurance Co Stock Corp in Munich raised its position in Eaton Corporation, PLC (NYSE:ETN – Free Report) by 24,986.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 154,281 shares of the industrial products company’s stock after purchasing an additional 153,666 shares during the period. Eaton accounts for approximately 1.4% of Munich Reinsurance Co Stock Corp in Munich’s portfolio, making the stock its 29th largest position. Munich Reinsurance Co Stock Corp in Munich’s holdings in Eaton were worth $55,182,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Aventura Private Wealth LLC bought a new stake in Eaton during the fourth quarter valued at $1,339,000. Farmers National Bank bought a new position in shares of Eaton in the 3rd quarter worth about $1,530,000. Ransom Advisory Ltd acquired a new position in shares of Eaton in the 4th quarter valued at about $3,881,000. Morse Asset Management Inc lifted its stake in shares of Eaton by 3,937.1% in the 3rd quarter. Morse Asset Management Inc now owns 4,239 shares of the industrial products company’s stock valued at $1,586,000 after purchasing an additional 4,134 shares during the period. Finally, Burling Wealth Partners LLC boosted its position in shares of Eaton by 63.0% during the 4th quarter. Burling Wealth Partners LLC now owns 11,296 shares of the industrial products company’s stock valued at $3,598,000 after purchasing an additional 4,366 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Eaton Stock Up 1.1%
ETN stock opened at $399.95 on Thursday. The stock’s 50 day simple moving average is $405.08 and its 200 day simple moving average is $376.13. Eaton Corporation, PLC has a fifty-two week low of $311.92 and a fifty-two week high of $436.74. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.75 and a current ratio of 1.19. The company has a market cap of $155.30 billion, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 2.54 and a beta of 1.18.
Eaton Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 8th were given a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $4.40 annualized dividend and a yield of 1.1%. Eaton’s dividend payout ratio (DPR) is presently 43.01%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on ETN shares. Morgan Stanley reiterated an “overweight” rating and issued a $500.00 target price on shares of Eaton in a report on Sunday, May 10th. KeyCorp increased their price target on Eaton from $420.00 to $480.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Citigroup raised their price objective on shares of Eaton from $464.00 to $471.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. BMO Capital Markets assumed coverage on shares of Eaton in a research note on Friday, March 27th. They issued an “outperform” rating and a $428.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Eaton from $406.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $423.00.
Get Our Latest Stock Report on Eaton
Insider Buying and Selling at Eaton
In other Eaton news, insider Peter Denk sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $417.94, for a total transaction of $835,880.00. Following the transaction, the insider owned 7,102 shares in the company, valued at approximately $2,968,209.88. This represents a 21.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson acquired 215 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $419.02 per share, for a total transaction of $90,089.30. Following the completion of the purchase, the director directly owned 1,629 shares of the company’s stock, valued at approximately $682,583.58. This represents a 15.21% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 21,028 shares of company stock worth $8,614,793 in the last ninety days. 0.10% of the stock is currently owned by corporate insiders.
Eaton Profile
Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.
Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.
See Also
- Five stocks we like better than Eaton
- A Market Panic Just Discounted the AI Highway’s Tollbooth
- Why Exxon Could Be the Market’s Next Big Comeback Stock
- The Market Just Got Shaken—These 3 ETFs May Come Out Stronger
- Meta Platforms’ Cloud Push: Growth Opportunity Versus AI Concerns
Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Corporation, PLC (NYSE:ETN – Free Report).
Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.
