Capital Advisors Inc. OK increased its position in shares of Eaton Co. plc (NYSE:ETN – Get 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
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:ETN – Get 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
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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