OLD Republic International Corp Has $69 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

OLD Republic International Corp cut its position in shares of Eaton Co. plc (NYSE:ETN) by 7.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 286,500 shares of the industrial products company’s stock after selling 23,200 shares during the period. Eaton accounts for approximately 2.6% of OLD Republic International Corp’s holdings, making the stock its 9th largest holding. OLD Republic International Corp’s holdings in Eaton were worth $68,995,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ETN. Brown Advisory Inc. lifted its position in Eaton by 5.3% in the 3rd quarter. Brown Advisory Inc. now owns 37,399 shares of the industrial products company’s stock valued at $7,977,000 after acquiring an additional 1,871 shares in the last quarter. Advisor Partners II LLC increased its stake in Eaton by 1.9% in the third quarter. Advisor Partners II LLC now owns 20,594 shares of the industrial products company’s stock worth $4,392,000 after purchasing an additional 380 shares during the period. Graypoint LLC lifted its holdings in shares of Eaton by 6.1% in the 3rd quarter. Graypoint LLC now owns 5,167 shares of the industrial products company’s stock worth $1,102,000 after buying an additional 295 shares during the period. CENTRAL TRUST Co increased its position in Eaton by 3.0% during the 3rd quarter. CENTRAL TRUST Co now owns 17,400 shares of the industrial products company’s stock valued at $3,711,000 after purchasing an additional 513 shares during the period. Finally, North Star Asset Management Inc. bought a new position in shares of Eaton in the 3rd quarter worth $394,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Eaton stock traded down $0.57 during mid-day trading on Friday, hitting $332.69. The company’s stock had a trading volume of 621,800 shares, compared to its average volume of 1,997,551. The stock’s fifty day moving average price is $312.17 and its two-hundred day moving average price is $265.48. The stock has a market capitalization of $133.01 billion, a P/E ratio of 39.33, a P/E/G ratio of 2.54 and a beta of 1.06. Eaton Co. plc has a twelve month low of $165.24 and a twelve month high of $337.70. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that Eaton Co. plc will post 10.45 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. Eaton’s dividend payout ratio is currently 44.39%.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Bank of America raised their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Finally, The Goldman Sachs Group raised their target price on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Insider Transactions at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now directly owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Eaton news, insider Peter Denk sold 1,731 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the sale, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last three months, insiders sold 21,635 shares of company stock valued at $6,311,392. Company insiders own 0.33% of the company’s stock.

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.