Headlands Technologies LLC Boosts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Headlands Technologies LLC increased its position in Eaton Co. plc (NYSE:ETN) by 2,151.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,777 shares of the industrial products company’s stock after buying an additional 13,165 shares during the period. Headlands Technologies LLC’s holdings in Eaton were worth $4,320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Gryphon Financial Partners LLC increased its position in Eaton by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock worth $565,000 after purchasing an additional 1,053 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in Eaton by 2.3% during the 4th quarter. Johnson Investment Counsel Inc. now owns 7,622 shares of the industrial products company’s stock worth $1,836,000 after purchasing an additional 172 shares during the period. Checchi Capital Advisers LLC increased its holdings in Eaton by 4.1% in the 4th quarter. Checchi Capital Advisers LLC now owns 5,117 shares of the industrial products company’s stock valued at $1,232,000 after purchasing an additional 203 shares in the last quarter. Avantax Advisory Services Inc. raised its position in Eaton by 23.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,879 shares of the industrial products company’s stock valued at $3,342,000 after purchasing an additional 2,631 shares during the period. Finally, Advisor OS LLC acquired a new position in shares of Eaton during the fourth quarter worth about $233,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Eaton stock traded up $0.45 during mid-day trading on Tuesday, reaching $289.83. The company’s stock had a trading volume of 79,936 shares, compared to its average volume of 2,158,010. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The business has a 50 day moving average price of $302.03 and a 200-day moving average price of $311.45. The firm has a market cap of $115.38 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.19 and a beta of 1.01.

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

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.30%. Eaton’s payout ratio is currently 44.39%.

Analysts Set New Price Targets

ETN has been the topic of several analyst reports. Morgan Stanley initiated coverage on Eaton in a report on Friday. They set an “overweight” rating and a $370.00 target price on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday. Barclays raised their price target on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. 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. Finally, Wells Fargo & Company cut their price target on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $335.18.

Insider Transactions at Eaton

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred 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 directly owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company’s stock.

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.