Eaton Co. plc (NYSE:ETN) Shares Bought by StrongBox Wealth LLC

StrongBox Wealth LLC increased its position in Eaton Co. plc (NYSE:ETNGet Rating) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,237 shares of the industrial products company’s stock after buying an additional 1,262 shares during the quarter. Eaton comprises approximately 1.4% of StrongBox Wealth LLC’s holdings, making the stock its 28th largest position. StrongBox Wealth LLC’s holdings in Eaton were worth $2,172,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Eaton by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 34,526,905 shares of the industrial products company’s stock worth $5,239,803,000 after acquiring an additional 500,438 shares during the last quarter. BlackRock Inc. increased its position in shares of Eaton by 5.5% in the first quarter. BlackRock Inc. now owns 27,959,368 shares of the industrial products company’s stock worth $4,243,113,000 after acquiring an additional 1,449,671 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Eaton by 3.5% during the first quarter. JPMorgan Chase & Co. now owns 26,578,334 shares of the industrial products company’s stock valued at $4,033,527,000 after acquiring an additional 900,550 shares during the period. State Street Corp lifted its position in shares of Eaton by 0.7% in the 4th quarter. State Street Corp now owns 16,615,642 shares of the industrial products company’s stock valued at $2,871,515,000 after acquiring an additional 115,947 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Eaton by 5.6% in the 1st quarter. Bank of America Corp DE now owns 14,218,498 shares of the industrial products company’s stock worth $2,157,799,000 after purchasing an additional 752,368 shares during the period. Institutional investors own 80.54% of the company’s stock.

Eaton Stock Performance

Shares of Eaton stock traded down $1.45 during midday trading on Friday, hitting $133.68. The company had a trading volume of 16,183 shares, compared to its average volume of 1,527,386. The business’s 50 day simple moving average is $142.94 and its two-hundred day simple moving average is $141.63. The stock has a market cap of $53.24 billion, a PE ratio of 23.18, a P/E/G ratio of 1.66 and a beta of 1.20. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.97 and a quick ratio of 0.58. Eaton Co. plc has a 1-year low of $122.50 and a 1-year high of $175.72.

Eaton (NYSE:ETNGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.05. Eaton had a net margin of 11.70% and a return on equity of 17.04%. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the company earned $1.72 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. As a group, equities analysts predict that Eaton Co. plc will post 7.55 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were paid a dividend of $0.81 per share. The ex-dividend date was Thursday, August 11th. This represents a $3.24 dividend on an annualized basis and a yield of 2.42%. Eaton’s dividend payout ratio is currently 56.15%.

Insider Buying and Selling at Eaton

In other Eaton news, Director Deborah L. Mccoy sold 3,000 shares of Eaton stock in a transaction on Friday, August 5th. The stock was sold at an average price of $148.72, for a total transaction of $446,160.00. Following the completion of the transaction, the director now directly owns 12,856 shares of the company’s stock, valued at $1,911,944.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Daniel Roy Hopgood sold 1,500 shares of Eaton stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $151.70, for a total value of $227,550.00. Following the completion of the transaction, the insider now directly owns 7,593 shares of the company’s stock, valued at $1,151,858.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deborah L. Mccoy sold 3,000 shares of Eaton stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $148.72, for a total value of $446,160.00. Following the completion of the transaction, the director now directly owns 12,856 shares of the company’s stock, valued at $1,911,944.32. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ETN shares. Wells Fargo & Company increased their target price on Eaton from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Eaton from $178.00 to $156.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. Royal Bank of Canada increased their price target on shares of Eaton from $139.00 to $145.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 3rd. The Goldman Sachs Group reduced their price target on shares of Eaton from $175.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. Finally, Citigroup increased their price target on shares of Eaton from $150.00 to $170.00 in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $160.15.

About Eaton

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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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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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