Marco Investment Management LLC Purchases 840 Shares of Eaton Co. plc (NYSE:ETN)

Marco Investment Management LLC raised its position in Eaton Co. plc (NYSE:ETN) by 11.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,255 shares of the industrial products company’s stock after purchasing an additional 840 shares during the period. Marco Investment Management LLC’s holdings in Eaton were worth $2,588,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Angeles Wealth Management LLC boosted its stake in Eaton by 3.8% during the second quarter. Angeles Wealth Management LLC now owns 1,126 shares of the industrial products company’s stock valued at $353,000 after buying an additional 41 shares during the period. Brasada Capital Management LP lifted its holdings in shares of Eaton by 3.3% during the 2nd quarter. Brasada Capital Management LP now owns 16,127 shares of the industrial products company’s stock worth $5,242,000 after acquiring an additional 511 shares during the last quarter. Carson Advisory Inc. boosted its holdings in shares of Eaton by 3.8% in the 2nd quarter. Carson Advisory Inc. now owns 3,241 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 120 shares in the last quarter. MGO One Seven LLC lifted its position in Eaton by 8.1% in the 2nd quarter. MGO One Seven LLC now owns 15,069 shares of the industrial products company’s stock worth $4,725,000 after buying an additional 1,128 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Eaton by 2,151.1% in the 2nd quarter. Headlands Technologies LLC now owns 13,777 shares of the industrial products company’s stock valued at $4,320,000 after purchasing an additional 13,165 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the subject of several analyst reports. Morgan Stanley began coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Barclays raised their target price on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price objective on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Evercore ISI cut their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $335.18.

Insiders Place Their Bets

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 transaction, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s 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 owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,511 shares of company stock valued at $15,809,326. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $288.30 on Wednesday. The firm has a market capitalization of $115.26 billion, a PE ratio of 34.04, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a 50 day moving average price of $301.53 and a 200-day moving average price of $311.47. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44.

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

Eaton Dividend Announcement

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

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.