Walden Wealth Partners LLC Boosts Holdings in Eaton Co. plc (NYSE:ETN)

Walden Wealth Partners LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 40.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,100 shares of the industrial products company’s stock after purchasing an additional 600 shares during the period. Walden Wealth Partners LLC’s holdings in Eaton were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pinnbrook Capital Management LP acquired a new stake in Eaton during the fourth quarter worth $15,109,000. Congress Wealth Management LLC DE raised its holdings in Eaton by 8.1% in the 4th quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after buying an additional 5,725 shares during the period. Norden Group LLC acquired a new position in Eaton in the first quarter valued at about $2,176,000. Weiss Asset Management LP purchased a new position in Eaton during the fourth quarter worth about $1,001,000. Finally, Prospector Partners LLC increased its position in shares of Eaton by 0.6% during the fourth quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock valued at $17,172,000 after acquiring an additional 415 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

ETN traded up $9.64 during trading on Thursday, hitting $287.32. 3,887,972 shares of the stock were exchanged, compared to its average volume of 2,185,178. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The stock has a fifty day moving average price of $313.33 and a two-hundred day moving average price of $306.10. The firm has a market capitalization of $114.87 billion, a P/E ratio of 33.92, a PEG ratio of 2.47 and a beta of 1.02.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Monday, August 5th. Eaton’s dividend payout ratio is currently 44.39%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ETN. Royal Bank of Canada dropped their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Argus lifted their target price on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Raymond James began coverage on shares of Eaton in a research report on Friday, June 28th. They set an “outperform” rating and a $375.00 price target on the stock. Barclays lifted their price objective on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company reduced 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.53.

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.