SPC Financial Inc. Has $3.13 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

SPC Financial Inc. raised its position in shares of Eaton Co. plc (NYSE:ETN) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,990 shares of the industrial products company’s stock after purchasing an additional 546 shares during the period. SPC Financial Inc.’s holdings in Eaton were worth $3,132,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital World Investors raised its holdings in shares of Eaton by 323.8% during the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after buying an additional 2,439,270 shares in the last quarter. Jennison Associates LLC raised its stake in Eaton by 2,857.4% during the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after acquiring an additional 1,219,790 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Eaton by 2,006.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after acquiring an additional 918,936 shares during the last quarter. Swedbank AB acquired a new stake in shares of Eaton in the 2nd quarter valued at approximately $225,974,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Eaton by 1,604.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after purchasing an additional 634,059 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of NYSE ETN opened at $331.44 on Tuesday. The firm has a market cap of $132.51 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The stock has a fifty day simple moving average of $301.25 and a two-hundred day simple moving average of $314.04. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19.

Eaton (NYSE:ETN) last released its quarterly earnings data 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 company 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%. Analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is currently 44.39%.

Insider Buying and Selling at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were 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 approximately $2,858,328. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 over the last three months. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on ETN shares. Wells Fargo & Company dropped their price target on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research note 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 note on Friday, August 2nd. Jefferies Financial Group raised their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Finally, Citigroup assumed coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $337.41.

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.