Eaton Co. plc (NYSE:ETN) Shares Sold by J. Stern & Co. LLP

J. Stern & Co. LLP cut its position in Eaton Co. plc (NYSE:ETN) by 12.7% during the second quarter, HoldingsChannel.com reports. The fund owned 198,418 shares of the industrial products company’s stock after selling 28,805 shares during the period. Eaton makes up 7.4% of J. Stern & Co. LLP’s portfolio, making the stock its 4th largest position. J. Stern & Co. LLP’s holdings in Eaton were worth $62,214,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ETN. LifeSteps Financial Inc. acquired a new position in shares of Eaton during the 1st quarter worth approximately $25,000. Breakwater Investment Management lifted its position in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares in the last quarter. Atwood & Palmer Inc. lifted its position in Eaton by 142.9% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after buying an additional 50 shares in the last quarter. Clear Investment Research LLC acquired a new position in Eaton during the fourth quarter worth $29,000. Finally, Proffitt & Goodson Inc. purchased a new stake in Eaton in the 2nd quarter valued at $29,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 0.5 %

Shares of ETN stock opened at $330.60 on Monday. The stock has a market capitalization of $132.17 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company has a 50 day moving average price of $299.93 and a 200 day moving average price of $312.71.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Equities research analysts predict that Eaton Co. plc will post 10.74 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is currently 44.39%.

Insider Activity

In other news, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the acquisition, the director now directly owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now owns 500 shares in the company, valued at approximately $149,485. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. In the last quarter, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ETN. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Barclays upped their price objective on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Royal Bank of Canada lowered their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Morgan Stanley began coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Finally, Raymond James cut their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $337.41.

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.