JB Capital LLC Sells 3,730 Shares of Eaton Co. plc (NYSE:ETN)

JB Capital LLC decreased its position in Eaton Co. plc (NYSE:ETN - Free Report) by 26.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,129 shares of the industrial products company's stock after selling 3,730 shares during the period. JB Capital LLC's holdings in Eaton were worth $3,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Wealth Management LLC DE lifted its stake in shares of Eaton by 8.1% in the 4th quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company's stock valued at $18,479,000 after purchasing an additional 5,725 shares during the period. Norden Group LLC purchased a new stake in shares of Eaton in the 1st quarter valued at approximately $2,176,000. Weiss Asset Management LP purchased a new position in shares of Eaton during the fourth quarter worth $1,001,000. Prospector Partners LLC grew its position in Eaton by 0.6% in the 4th quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company's stock valued at $17,172,000 after acquiring an additional 415 shares in the last quarter. Finally, Spire Wealth Management grew its holdings in shares of Eaton by 66.0% in the fourth quarter. Spire Wealth Management now owns 14,914 shares of the industrial products company's stock valued at $3,648,000 after purchasing an additional 5,932 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Price Performance

Shares of ETN stock traded up $2.12 during trading hours on Friday, hitting $299.81. The company's stock had a trading volume of 1,950,112 shares, compared to its average volume of 2,173,366. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $307.69 and a 200-day moving average of $309.52. The stock has a market cap of $119.86 billion, a price-to-earnings ratio of 35.40, a P/E/G ratio of 2.47 and a beta of 1.02.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be paid a $0.94 dividend. The ex-dividend date is Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.25%. Eaton's 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 stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now owns 71,262 shares of the company's stock, valued at $21,451,287.24. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ETN. Mizuho restated a "buy" rating and issued a $355.00 price objective (up from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Evercore ISI dropped their price objective on Eaton from $357.00 to $333.00 and set an "outperform" rating on the stock in a report on Monday. HSBC upped their price target on Eaton from $240.00 to $280.00 and gave the company a "hold" rating in a report on Friday, May 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Eaton from $279.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 1st. Finally, Raymond James assumed coverage on shares of Eaton in a research report on Friday, June 28th. They issued an "outperform" rating and a $375.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $328.00.

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.