Eaton Co. plc (NYSE:ETN) Stock Holdings Increased by Lyell Wealth Management LP

Lyell Wealth Management LP lifted its stake in Eaton Co. plc (NYSE:ETN) by 6.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,107 shares of the industrial products company’s stock after purchasing an additional 70 shares during the quarter. Lyell Wealth Management LP’s holdings in Eaton were worth $347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. LifeSteps Financial Inc. bought a new position in Eaton during the first quarter valued at approximately $25,000. Atwood & Palmer Inc. raised its position in Eaton by 142.9% during the first 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 in the last quarter. Proffitt & Goodson Inc. bought a new position in Eaton during the second quarter valued at approximately $29,000. LGT Financial Advisors LLC bought a new position in Eaton during the second quarter valued at approximately $33,000. Finally, Redmont Wealth Advisors LLC bought a new position in Eaton during the first quarter valued at approximately $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ETN shares. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Jefferies Financial Group lifted their price target on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Wells Fargo & Company dropped their price target on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Evercore ISI dropped their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, Royal Bank of Canada dropped their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $335.18.

Eaton Trading Up 0.8 %

Shares of Eaton stock opened at $305.80 on Monday. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $300.56 and its 200-day simple moving average is $311.83. The company has a market cap of $122.26 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.28 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. As a group, sell-side analysts expect that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.23%. Eaton’s dividend payout ratio is presently 44.39%.

Insider Transactions at Eaton

In other news, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares in the company, valued at $662,161.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $96,721.20. Following 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 SEC, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is 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.