Strategy Asset Managers LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

Strategy Asset Managers LLC boosted its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 68.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,334 shares of the industrial products company's stock after acquiring an additional 13,145 shares during the period. Eaton accounts for 2.0% of Strategy Asset Managers LLC's holdings, making the stock its 10th biggest position. Strategy Asset Managers LLC's holdings in Eaton were worth $10,138,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ETN. Legacy Capital Group California Inc. boosted its stake in Eaton by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company's stock worth $870,000 after acquiring an additional 32 shares in the last quarter. Well Done LLC grew its stake in shares of Eaton by 1.3% in the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company's stock valued at $800,000 after buying an additional 33 shares during the period. Verdence Capital Advisors LLC increased its position in Eaton by 1.7% in the 1st quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company's stock valued at $644,000 after buying an additional 34 shares in the last quarter. Fragasso Group Inc. raised its stake in Eaton by 3.6% during the 1st quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company's stock worth $323,000 after buying an additional 36 shares during the period. Finally, Valley National Advisers Inc. boosted its holdings in Eaton by 5.6% in the first quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company's stock worth $213,000 after acquiring an additional 36 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Performance

Shares of NYSE ETN traded down $0.96 during mid-day trading on Wednesday, reaching $288.77. 2,092,736 shares of the company's stock were exchanged, compared to its average volume of 2,173,904. The firm has a 50-day moving average price of $303.62 and a two-hundred day moving average price of $311.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The firm has a market capitalization of $115.45 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 2.35 and a beta of 1.02. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Analysts predict that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.30%. The ex-dividend date was Monday, August 5th. Eaton's dividend payout ratio (DPR) is 44.39%.

Insiders Place Their Bets

In other news, insider Michael Yelton sold 3,136 shares of the company's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the transaction, the insider now owns 3,914 shares of the company's stock, valued at approximately $1,186,411.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Eaton news, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares of the company's stock, valued at $149,485. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Yelton sold 3,136 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the sale, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 over the last ninety days. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of research reports. Raymond James initiated coverage on Eaton in a research report on Friday, June 28th. They set an "outperform" rating and a $375.00 target price on the stock. Barclays upped their price objective on shares of Eaton from $318.00 to $319.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd. Royal Bank of Canada reduced their price objective on shares of Eaton from $376.00 to $371.00 and set an "outperform" rating for the company in a report on Friday, August 2nd. Jefferies Financial Group raised their price target on shares of Eaton from $370.00 to $385.00 and gave the company a "buy" rating in a research report on Thursday, July 11th. Finally, Evercore ISI decreased their price objective on Eaton from $357.00 to $333.00 and set an "outperform" rating for the company in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average 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.