Park Edge Advisors LLC Grows Holdings in Eaton Co. plc (NYSE:ETN)

Park Edge Advisors LLC grew its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 260.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,790 shares of the industrial products company's stock after acquiring an additional 2,016 shares during the quarter. Park Edge Advisors LLC's holdings in Eaton were worth $875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. LifeSteps Financial Inc. bought a new stake in Eaton in the 1st quarter valued at $25,000. Atwood & Palmer Inc. grew its holdings in shares of Eaton by 142.9% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company's stock valued at $27,000 after buying an additional 50 shares during the last quarter. Clear Investment Research LLC acquired a new position in Eaton during the fourth quarter valued at $29,000. Proffitt & Goodson Inc. acquired a new position in shares of Eaton in the 2nd quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Eaton during the 1st quarter valued at approximately $33,000. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent analyst reports. Argus upped their price objective on Eaton from $290.00 to $350.00 and gave the company a "buy" rating in a report on Thursday, May 2nd. Raymond James began coverage on Eaton in a research report on Friday, June 28th. They issued an "outperform" rating and a $375.00 price target on the stock. Wells Fargo & Company reduced their target price on Eaton from $320.00 to $315.00 and set an "equal weight" rating for the company in a report on Friday, August 2nd. Mizuho reissued a "buy" rating and issued a $355.00 price objective (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their target price 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton has an average rating of "Moderate Buy" and a consensus price target of $328.00.

Insider Buying and Selling at Eaton

In other Eaton news, Director Karenann K. Terrell acquired 500 shares of the stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now owns 500 shares of the company's stock, valued at approximately $149,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Heath B. Monesmith sold 49,040 shares of the company's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares of the company's stock, valued at $21,451,287.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Karenann K. Terrell bought 500 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. Company insiders own 0.53% of the company's stock.

Eaton Stock Performance

Shares of NYSE:ETN traded down $0.78 during midday trading on Tuesday, reaching $296.13. 1,710,434 shares of the company's stock traded hands, compared to its average volume of 2,166,964. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The stock has a 50 day moving average of $307.12 and a 200 day moving average of $310.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.56. The company has a market cap of $118.39 billion, a price-to-earnings ratio of 34.96, a P/E/G ratio of 2.47 and a beta of 1.02.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.66 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.27%. Eaton's dividend payout ratio (DPR) is presently 44.39%.

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.

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