Davis R M Inc. trimmed its position in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 211,389 shares of the industrial products company’s stock after selling 181 shares during the quarter. Davis R M Inc. owned 0.05% of Eaton worth $42,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Marquette Asset Management LLC purchased a new stake in Eaton in the 2nd quarter valued at about $28,000. Glass Jacobson Investment Advisors llc purchased a new stake in shares of Eaton during the second quarter valued at approximately $29,000. NewSquare Capital LLC bought a new stake in Eaton during the second quarter worth $39,000. Coppell Advisory Solutions Corp. purchased a new position in Eaton in the fourth quarter worth $30,000. Finally, Tucker Asset Management LLC bought a new position in Eaton in the 1st quarter valued at $37,000. 81.02% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ETN has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on shares of Eaton from $235.00 to $238.00 and gave the stock an “overweight” rating in a report on Monday, September 25th. Wells Fargo & Company reduced their target price on shares of Eaton from $228.00 to $210.00 in a research report on Monday, October 9th. JPMorgan Chase & Co. upgraded Eaton from a “neutral” rating to an “overweight” rating and set a $230.00 price objective on the stock in a research note on Friday, October 6th. StockNews.com initiated coverage on Eaton in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, HSBC upped their price target on Eaton from $161.00 to $210.00 and gave the company a “hold” rating in a research report on Thursday, August 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eaton has a consensus rating of “Hold” and a consensus price target of $219.23.
Insider Buying and Selling
In other Eaton news, insider Taras G. Jr. Szmagala sold 1,869 shares of Eaton stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $226.68, for a total transaction of $423,664.92. Following the completion of the sale, the insider now owns 7,431 shares of the company’s stock, valued at $1,684,459.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Taras G. Jr. Szmagala sold 1,869 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $226.68, for a total value of $423,664.92. Following the completion of the sale, the insider now owns 7,431 shares of the company’s stock, valued at approximately $1,684,459.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas B. Okray sold 4,950 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $231.09, for a total value of $1,143,895.50. Following the sale, the insider now owns 7,367 shares of the company’s stock, valued at $1,702,440.03. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.
Eaton Trading Down 0.8 %
Shares of ETN stock opened at $225.88 on Monday. The company has a market capitalization of $90.19 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 2.18 and a beta of 1.07. Eaton Co. plc has a 52-week low of $150.86 and a 52-week high of $240.44. The business’s fifty day moving average is $213.10 and its 200 day moving average is $204.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.96 and a current ratio of 1.45.
Eaton (NYSE:ETN – Get Free Report) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.13. The firm had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.89 billion. Eaton had a return on equity of 19.49% and a net margin of 13.24%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.02 EPS. On average, equities research analysts anticipate that Eaton Co. plc will post 9.02 EPS for the current fiscal year.
Eaton Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, November 3rd. Eaton’s dividend payout ratio is currently 46.05%.
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.
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