Johnson Investment Counsel Inc. Grows Holdings in Eaton Co. plc (NYSE:ETN)

Johnson Investment Counsel Inc. grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,151 shares of the industrial products company’s stock after purchasing an additional 240 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Eaton were worth $1,438,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC boosted its holdings in shares of Eaton by 3.9% in the second quarter. Capital Investment Advisory Services LLC now owns 1,326 shares of the industrial products company’s stock valued at $267,000 after acquiring an additional 50 shares during the period. Strategic Advisors LLC grew its position in Eaton by 0.4% during the 2nd quarter. Strategic Advisors LLC now owns 14,249 shares of the industrial products company’s stock worth $2,865,000 after purchasing an additional 51 shares during the last quarter. American National Bank increased its stake in Eaton by 1.8% in the second quarter. American National Bank now owns 2,934 shares of the industrial products company’s stock valued at $590,000 after purchasing an additional 52 shares during the period. Valmark Advisers Inc. raised its holdings in shares of Eaton by 1.1% in the second quarter. Valmark Advisers Inc. now owns 4,813 shares of the industrial products company’s stock valued at $968,000 after buying an additional 52 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Eaton by 0.8% during the second quarter. Parallel Advisors LLC now owns 6,240 shares of the industrial products company’s stock worth $1,255,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 81.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ETN shares. Barclays lifted their target price on Eaton from $185.00 to $187.00 and gave the company an “underweight” rating in a research note on Wednesday, November 1st. StockNews.com initiated coverage on shares of Eaton in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Morgan Stanley raised their target price on shares of Eaton from $235.00 to $238.00 and gave the stock an “overweight” rating in a research note on Monday, September 25th. JPMorgan Chase & Co. raised shares of Eaton from a “neutral” rating to an “overweight” rating and set a $230.00 price target for the company in a report on Friday, October 6th. Finally, Royal Bank of Canada lifted their price objective on Eaton from $215.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, November 1st. 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. According to data from MarketBeat, Eaton presently has an average rating of “Hold” and a consensus price target of $219.23.

Insider Buying and Selling

In other news, insider Thomas B. Okray sold 4,950 shares of Eaton stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $231.09, for a total transaction of $1,143,895.50. Following the completion of the sale, the insider now directly owns 7,367 shares in the company, valued at $1,702,440.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Thomas B. Okray sold 4,950 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $231.09, for a total transaction of $1,143,895.50. Following the sale, the insider now owns 7,367 shares in the company, valued at $1,702,440.03. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 1,869 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $226.68, for a total value of $423,664.92. Following the completion of the transaction, the insider now owns 7,431 shares of the company’s stock, valued at $1,684,459.08. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Eaton Trading Up 0.4 %

NYSE:ETN opened at $227.80 on Monday. Eaton Co. plc has a 52-week low of $150.86 and a 52-week high of $240.44. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $213.10 and a 200-day simple moving average of $204.76. The company has a market capitalization of $90.96 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 2.18 and a beta of 1.07.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.34 by $0.13. Eaton had a net margin of 13.24% and a return on equity of 19.49%. The business had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.89 billion. During the same period in the prior year, the business earned $2.02 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts expect that Eaton Co. plc will post 9.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Monday, November 6th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Friday, November 3rd. Eaton’s payout ratio is currently 46.05%.

Eaton 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.