Capital Advisors Inc. OK Raises Holdings in Eaton Co. plc (NYSE:ETN)

Capital Advisors Inc. OK increased its position in shares of Eaton Co. plc (NYSE:ETNGet Rating) by 6.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 95,352 shares of the industrial products company’s stock after buying an additional 5,527 shares during the quarter. Capital Advisors Inc. OK’s holdings in Eaton were worth $12,013,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Wolff Wiese Magana LLC lifted its stake in shares of Eaton by 19.2% in the second quarter. Wolff Wiese Magana LLC now owns 601 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 97 shares in the last quarter. Westshore Wealth LLC acquired a new stake in Eaton in the second quarter worth approximately $307,000. HB Wealth Management LLC grew its holdings in shares of Eaton by 4.8% in the 2nd quarter. HB Wealth Management LLC now owns 4,116 shares of the industrial products company’s stock worth $519,000 after acquiring an additional 187 shares during the last quarter. StrongBox Wealth LLC increased its position in shares of Eaton by 7.9% in the second quarter. StrongBox Wealth LLC now owns 17,237 shares of the industrial products company’s stock worth $2,172,000 after acquiring an additional 1,262 shares in the last quarter. Finally, Gilman Hill Asset Management LLC purchased a new stake in shares of Eaton in the second quarter valued at $257,000. 80.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on ETN shares. StockNews.com upgraded Eaton from a “hold” rating to a “buy” rating in a report on Friday, July 8th. Citigroup boosted their price objective on shares of Eaton from $150.00 to $170.00 in a report on Thursday, August 4th. Robert W. Baird set a $144.00 target price on shares of Eaton in a research note on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Eaton from $178.00 to $156.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Finally, Wells Fargo & Company increased their price objective on shares of Eaton from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.15.

Insider Buying and Selling

In related news, insider Daniel Roy Hopgood sold 1,500 shares of Eaton stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $151.70, for a total transaction of $227,550.00. Following the sale, the insider now directly owns 7,593 shares in the company, valued at approximately $1,151,858.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Daniel Roy Hopgood sold 1,500 shares of Eaton stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $151.70, for a total transaction of $227,550.00. Following the sale, the insider now directly owns 7,593 shares in the company, valued at approximately $1,151,858.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Deborah L. Mccoy sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $148.72, for a total transaction of $446,160.00. Following the completion of the transaction, the director now owns 12,856 shares in the company, valued at approximately $1,911,944.32. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.

Eaton Stock Performance

NYSE:ETN traded down $0.94 during mid-day trading on Friday, reaching $134.19. 68,482 shares of the company’s stock were exchanged, compared to its average volume of 1,527,386. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.58 and a current ratio of 0.97. Eaton Co. plc has a one year low of $122.50 and a one year high of $175.72. The firm has a market capitalization of $53.45 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.66 and a beta of 1.20. The business’s fifty day simple moving average is $142.94 and its two-hundred day simple moving average is $141.63.

Eaton (NYSE:ETNGet Rating) last released its earnings results on Tuesday, August 2nd. The industrial products company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.82 by $0.05. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.22 billion. Eaton had a net margin of 11.70% and a return on equity of 17.04%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm earned $1.72 EPS. Analysts anticipate that Eaton Co. plc will post 7.55 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a dividend of $0.81 per share. The ex-dividend date was Thursday, August 11th. This represents a $3.24 annualized dividend and a yield of 2.41%. Eaton’s dividend payout ratio is presently 56.15%.

Eaton Company Profile

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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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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