Qsemble Capital Management LP Acquires Shares of 17,688 Eaton Co. plc (NYSE:ETN)

Qsemble Capital Management LP bought a new position in Eaton Co. plc (NYSE:ETN) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 17,688 shares of the industrial products company’s stock, valued at approximately $5,546,000. Eaton comprises 1.1% of Qsemble Capital Management LP’s holdings, making the stock its 2nd largest holding.

Several other institutional investors also recently modified their holdings of ETN. Gryphon Financial Partners LLC raised its position in Eaton by 81.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock worth $565,000 after acquiring an additional 1,053 shares during the period. 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 bought a new position in Eaton in the 4th quarter worth approximately $233,000. Quotient Wealth Partners LLC bought a new stake in Eaton during the 4th quarter valued at $316,000. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of Eaton during the fourth quarter worth $407,000. 82.97% of the stock is owned by institutional investors.

Eaton Trading Up 3.0 %

ETN stock opened at $297.00 on Thursday. The company has a market capitalization 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 company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The company’s 50 day moving average price is $301.10 and its two-hundred day moving average price is $311.37.

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 the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. As a group, analysts predict that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.27%. Eaton’s payout ratio is 44.39%.

Insiders Place Their Bets

In other 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 value of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a document filed 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 business’s stock in a transaction dated Monday, August 12th. The stock was 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 in the last ninety days. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of analyst reports. Raymond James decreased their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday. Jefferies Financial Group increased their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company decreased 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. Morgan Stanley started coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Finally, Royal Bank of Canada lowered their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $335.18.

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.