Eaton Co. plc (NYSE:ETN) Shares Sold by GYL Financial Synergies LLC

GYL Financial Synergies LLC decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,469 shares of the industrial products company’s stock after selling 179 shares during the quarter. GYL Financial Synergies LLC’s holdings in Eaton were worth $1,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Legacy Capital Group California Inc. lifted its position in Eaton by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after buying an additional 32 shares during the last quarter. Well Done LLC boosted its position in shares of Eaton by 1.3% during the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 33 shares during the period. Verdence Capital Advisors LLC increased its holdings 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 purchasing an additional 34 shares during the last quarter. Wendell David Associates Inc. raised its position in Eaton by 4.0% in the first quarter. Wendell David Associates Inc. now owns 936 shares of the industrial products company’s stock valued at $293,000 after purchasing an additional 36 shares during the period. Finally, Fragasso Group Inc. lifted its stake in Eaton by 3.6% during the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of Eaton stock opened at $300.00 on Friday. The firm has a market capitalization of $119.94 billion, a P/E ratio of 35.15, a P/E/G ratio of 2.47 and a beta of 1.02. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The firm’s 50 day moving average is $308.07 and its two-hundred day moving average is $309.31.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a dividend of $0.94 per share. The ex-dividend date is Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.25%. Eaton’s dividend payout ratio is currently 44.39%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Mizuho reiterated a “buy” rating and set a $355.00 price target (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. JPMorgan Chase & Co. raised their price objective on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Raymond James started coverage on shares of Eaton in a research note on Friday, June 28th. They set an “outperform” rating and a $375.00 target price on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $328.00.

Insider Buying and Selling at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated 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 sale, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,858,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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 disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

About Eaton

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.