Brasada Capital Management LP Buys 511 Shares of Eaton Co. plc (NYSE:ETN)

Brasada Capital Management LP boosted its stake in Eaton Co. plc (NYSE:ETN) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,127 shares of the industrial products company’s stock after purchasing an additional 511 shares during the quarter. Brasada Capital Management LP’s holdings in Eaton were worth $5,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ETN. Gryphon Financial Partners LLC raised its holdings in shares of Eaton by 81.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after acquiring an additional 1,053 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Eaton by 23.4% in 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 acquiring an additional 2,631 shares in the last quarter. Advisor OS LLC purchased a new stake in shares of Eaton in the 4th quarter valued at about $233,000. Quotient Wealth Partners LLC purchased a new stake in shares of Eaton in the 4th quarter valued at about $316,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Eaton by 8.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 397,350 shares of the industrial products company’s stock valued at $92,622,000 after acquiring an additional 29,962 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of Eaton stock opened at $288.30 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The business’s 50 day simple moving average is $301.53 and its two-hundred day simple moving average is $311.47. The stock has a market capitalization of $115.26 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. 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 quarterly earnings data 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. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Analysts forecast 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. Stockholders of record on Monday, August 5th were given a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.30%. Eaton’s dividend payout ratio is currently 44.39%.

Insider Transactions at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ETN has been the topic of several recent analyst reports. Morgan Stanley began coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Wells Fargo & Company decreased their price objective on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Raymond James decreased their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday. Royal Bank of Canada decreased their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $335.18.

Eaton 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.