Eaton Co. plc (NYSE:ETN) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. grew its position in Eaton Co. plc (NYSE:ETN) by 4.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,897 shares of the industrial products company’s stock after acquiring an additional 1,483 shares during the period. Pacer Advisors Inc.’s holdings in Eaton were worth $10,315,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norden Group LLC purchased a new position in Eaton during the first quarter worth approximately $2,176,000. Weiss Asset Management LP acquired a new stake in Eaton in the 4th quarter valued at $1,001,000. Griffin Asset Management Inc. purchased a new stake in Eaton in the 1st quarter worth $813,000. Stifel Financial Corp raised its position in Eaton by 1.3% during the fourth quarter. Stifel Financial Corp now owns 1,480,444 shares of the industrial products company’s stock worth $356,535,000 after acquiring an additional 19,529 shares during the period. Finally, Focus Financial Network Inc. ADV purchased a new position in Eaton during the fourth quarter valued at $554,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,511 shares of company stock valued at $15,809,326. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ETN. Royal Bank of Canada reduced their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Citigroup assumed coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Evercore ISI lowered their price target on 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 lowered their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $337.41.

Eaton Stock Performance

NYSE ETN opened at $330.60 on Monday. The stock’s fifty day moving average is $299.93 and its two-hundred day moving average is $312.71. The firm 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. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, research analysts anticipate that Eaton Co. plc will post 10.74 earnings per share for the current year.

Eaton Dividend Announcement

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

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.