Game Plan Financial Advisors LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

Game Plan Financial Advisors LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,725 shares of the industrial products company’s stock after acquiring an additional 150 shares during the period. Eaton makes up 2.1% of Game Plan Financial Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Game Plan Financial Advisors LLC’s holdings in Eaton were worth $4,303,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. D.A. Davidson & CO. boosted its stake in Eaton by 9.0% during the second quarter. D.A. Davidson & CO. now owns 27,187 shares of the industrial products company’s stock worth $8,525,000 after acquiring an additional 2,251 shares in the last quarter. Drive Wealth Management LLC lifted its stake in shares of Eaton by 3.9% in the second quarter. Drive Wealth Management LLC now owns 1,259 shares of the industrial products company’s stock worth $395,000 after buying an additional 47 shares in the last quarter. JPL Wealth Management LLC lifted its stake in shares of Eaton by 120.9% in the second quarter. JPL Wealth Management LLC now owns 2,786 shares of the industrial products company’s stock worth $874,000 after buying an additional 1,525 shares in the last quarter. Valmark Advisers Inc. lifted its stake in shares of Eaton by 2.5% in the second quarter. Valmark Advisers Inc. now owns 5,788 shares of the industrial products company’s stock worth $1,815,000 after buying an additional 143 shares in the last quarter. Finally, Retireful LLC bought a new position in shares of Eaton in the second quarter worth approximately $1,082,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Evercore ISI dropped their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Royal Bank of Canada dropped their target price on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group increased their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Wells Fargo & Company lowered their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Raymond James started coverage on shares of Eaton in a research report on Friday, June 28th. They set an “outperform” rating and a $375.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $328.00.

Eaton Price Performance

ETN traded up $5.84 during trading on Friday, hitting $306.93. 2,320,225 shares of the company traded hands, compared to its average volume of 2,438,304. The company has a market cap of $122.71 billion, a PE ratio of 36.24, a P/E/G ratio of 2.35 and a beta of 1.02. The stock’s 50-day simple moving average is $305.11 and its two-hundred day simple moving average is $310.66. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. As a group, sell-side analysts anticipate that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.23%. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The shares were 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 of the company’s stock, valued at approximately $2,858,328. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 over the last 90 days. 0.53% of the stock is owned by insiders.

About Eaton

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.