Beverly Hills Private Wealth LLC Sells 1,397 Shares of Eaton Co. plc (NYSE:ETN)

Beverly Hills Private Wealth LLC reduced its stake in Eaton Co. plc (NYSE:ETN) by 15.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,487 shares of the industrial products company’s stock after selling 1,397 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Eaton were worth $2,347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gryphon Financial Partners LLC lifted its position in shares of Eaton by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after buying an additional 1,053 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Eaton by 23.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 13,879 shares of the industrial products company’s stock valued at $3,342,000 after buying an additional 2,631 shares in the last quarter. Advisor OS LLC purchased a new stake in Eaton in the 4th quarter worth $233,000. Quotient Wealth Partners LLC bought a new position in shares of Eaton in the fourth quarter worth about $316,000. Finally, Foundations Investment Advisors LLC bought a new stake in Eaton during the 4th quarter valued at approximately $407,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired 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 of the company’s stock, valued at approximately $662,161.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 over the last 90 days. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ETN shares. Raymond James reduced their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday. Barclays raised their price objective on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Morgan Stanley started coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Evercore ISI lowered their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $335.18.

Eaton Stock Performance

Shares of NYSE:ETN opened at $297.00 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The firm has a market cap of $118.74 billion, a PE ratio of 35.06, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The firm’s 50 day simple moving average is $301.10 and its 200-day simple moving average is $311.37. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. As a group, equities analysts predict that Eaton Co. plc will post 10.74 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 paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio (DPR) 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.