BBR Partners LLC Lowers Holdings in Eaton Co. plc (NYSE:ETN)

BBR Partners LLC lowered its holdings in Eaton Co. plc (NYSE:ETN) by 55.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,063 shares of the industrial products company’s stock after selling 1,336 shares during the quarter. BBR Partners LLC’s holdings in Eaton were worth $333,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ETN. LifeSteps Financial Inc. acquired a new position in Eaton in the first quarter valued at about $25,000. Atwood & Palmer Inc. raised 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 acquiring an additional 50 shares during the period. Proffitt & Goodson Inc. acquired a new position in shares of Eaton in the 2nd quarter worth approximately $29,000. Redmont Wealth Advisors LLC acquired a new stake in Eaton in the 1st quarter valued at approximately $33,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in Eaton in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Evercore ISI lowered their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday. Royal Bank of Canada cut their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Raymond James began coverage on Eaton in a research report on Friday, June 28th. They set an “outperform” rating and a $375.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $335.76.

Eaton Stock Performance

NYSE ETN opened at $285.70 on Friday. The company has a fifty day moving average of $303.05 and a two-hundred day moving average of $310.88. The company has a market capitalization of $114.22 billion, a PE ratio of 33.73, a P/E/G ratio of 2.35 and a beta of 1.02. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, analysts expect that Eaton Co. plc will post 10.74 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued 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 1.32%. Eaton’s payout ratio is 44.39%.

Insider Activity at Eaton

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. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was 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 directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karenann K. Terrell bought 500 shares of the stock in a transaction on Wednesday, August 21st. The stock was bought 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 in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 in the last 90 days. 0.53% of the stock is owned by insiders.

Eaton Company 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.