First Foundation Advisors Cuts Holdings in Eaton Co. plc (NYSE:ETN)

First Foundation Advisors reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 13.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,210 shares of the industrial products company’s stock after selling 187 shares during the quarter. First Foundation Advisors’ holdings in Eaton were worth $379,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ETN. Congress Wealth Management LLC DE increased its position in shares of Eaton by 8.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after buying an additional 5,725 shares in the last quarter. Norden Group LLC purchased a new stake in Eaton in the 1st quarter worth $2,176,000. Weiss Asset Management LP acquired a new position in Eaton during the fourth quarter worth $1,001,000. Prospector Partners LLC lifted its holdings in Eaton by 0.6% during the fourth quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock valued at $17,172,000 after purchasing an additional 415 shares in the last quarter. Finally, Griffin Asset Management Inc. purchased a new stake in shares of Eaton during the first quarter worth about $813,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ETN. Royal Bank of Canada decreased their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday. Evercore ISI lowered their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Finally, Raymond James reduced their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $335.18.

Eaton Trading Up 1.5 %

ETN opened at $289.38 on Tuesday. The business’s 50 day moving average price is $302.03 and its 200 day moving average price is $311.45. 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 stock has a market capitalization of $115.20 billion, a PE ratio of 34.17, a P/E/G ratio of 2.19 and a beta of 1.01. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19.

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

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is 44.39%.

Insider Transactions at Eaton

In other news, Director Karenann K. Terrell bought 500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at $149,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Karenann K. Terrell bought 500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is currently owned by insiders.

About Eaton

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.