Private Advisor Group LLC Increases Position in Eaton Co. PLC (ETN)

Private Advisor Group LLC lifted its holdings in Eaton Co. PLC (NYSE:ETN) by 132.3% in the second quarter, HoldingsChannel reports. The firm owned 24,241 shares of the industrial products company’s stock after buying an additional 13,804 shares during the quarter. Private Advisor Group LLC’s holdings in Eaton were worth $1,814,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Silvant Capital Management LLC acquired a new position in Eaton during the 1st quarter worth approximately $105,000. Zions Bancorporation acquired a new position in Eaton during the 2nd quarter worth approximately $113,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Eaton during the 2nd quarter worth approximately $123,000. Thompson Davis & CO. Inc. acquired a new position in Eaton during the 1st quarter worth approximately $124,000. Finally, Institutional & Family Asset Management LLC acquired a new position in Eaton during the 1st quarter worth approximately $137,000. Institutional investors own 77.55% of the company’s stock.

In related news, insider William J. Vanlandingham II sold 5,722 shares of the company’s stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $79.39, for a total value of $454,269.58. Following the completion of the sale, the insider now owns 12,674 shares in the company, valued at approximately $1,006,188.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Richard M. Eubanks sold 7,175 shares of the company’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $80.21, for a total transaction of $575,506.75. Following the completion of the sale, the insider now owns 10,964 shares of the company’s stock, valued at approximately $879,422.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,683 shares of company stock valued at $2,220,088. 0.50% of the stock is owned by insiders.

Several research analysts have commented on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $80.00 price target on shares of Eaton in a report on Tuesday, July 31st. Wells Fargo & Co set a $92.00 price target on shares of Eaton and gave the stock a “buy” rating in a report on Wednesday, August 1st. Barclays boosted their price target on shares of Eaton from $71.00 to $77.00 and gave the stock an “underweight” rating in a report on Wednesday, August 1st. Zacks Investment Research cut shares of Eaton from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, Morgan Stanley assumed coverage on shares of Eaton in a report on Monday, August 20th. They set an “equal weight” rating and a $86.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $87.61.

Shares of Eaton stock opened at $81.68 on Monday. Eaton Co. PLC has a 12-month low of $69.82 and a 12-month high of $89.85. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $35.39 billion, a PE ratio of 17.57, a P/E/G ratio of 1.49 and a beta of 1.42.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.07. Eaton had a net margin of 14.80% and a return on equity of 13.11%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.45 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. research analysts expect that Eaton Co. PLC will post 5.36 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Friday, August 3rd were given a $0.66 dividend. The ex-dividend date was Thursday, August 2nd. This represents a $2.64 annualized dividend and a yield of 3.23%. Eaton’s dividend payout ratio (DPR) is 56.77%.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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