Eaton Co. plc (NYSE:ETN) Stake Lessened by Calamos Advisors LLC

Calamos Advisors LLC lessened its holdings in Eaton Co. plc (NYSE:ETN) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,078 shares of the industrial products company’s stock after selling 2,813 shares during the period. Calamos Advisors LLC’s holdings in Eaton were worth $24,168,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. LifeSteps Financial Inc. acquired a new stake in Eaton in the 1st quarter worth approximately $25,000. Atwood & Palmer Inc. boosted its stake in shares of Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 50 shares in the last quarter. Proffitt & Goodson Inc. bought a new stake in Eaton during the second quarter worth about $29,000. Tennessee Valley Asset Management Partners bought a new stake in Eaton during the 4th quarter worth approximately $25,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Eaton during the 1st quarter worth about $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the subject of several research reports. Royal Bank of Canada lowered their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. HSBC boosted their price target on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. 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. Mizuho reiterated a “buy” rating and set a $355.00 target price (up previously from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company reduced their price target on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $328.00.

Eaton Stock Up 0.8 %

Shares of NYSE:ETN traded up $2.31 during mid-day trading on Friday, reaching $300.00. 1,950,652 shares of the stock were exchanged, compared to its average volume of 2,173,366. The stock’s 50 day simple moving average is $307.69 and its 200-day simple moving average is $310.05. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The company has a market cap of $119.94 billion, a P/E ratio of 35.42, a P/E/G ratio of 2.47 and a beta of 1.02.

Eaton (NYSE:ETN) last issued its earnings results 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. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, equities research analysts predict that Eaton Co. plc will post 10.66 EPS for the current year.

Eaton Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. 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 Eaton 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 completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton 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 completion of the sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

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.