Eaton Co. plc (NYSE:ETN) Shares Sold by Baldwin Brothers LLC MA

Baldwin Brothers LLC MA reduced its position in Eaton Co. plc (NYSE:ETN) by 36.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 140 shares of the industrial products company’s stock after selling 80 shares during the quarter. Baldwin Brothers LLC MA’s holdings in Eaton were worth $44,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bleakley Financial Group LLC boosted its position in Eaton by 9.7% in the 4th quarter. Bleakley Financial Group LLC now owns 10,809 shares of the industrial products company’s stock valued at $2,603,000 after buying an additional 952 shares during the period. Valley National Advisers Inc. raised its stake in shares of Eaton by 44.5% in the fourth quarter. Valley National Advisers Inc. now owns 646 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 199 shares in the last quarter. Strategic Blueprint LLC grew its stake in Eaton by 34.8% during the 4th quarter. Strategic Blueprint LLC now owns 3,895 shares of the industrial products company’s stock worth $938,000 after purchasing an additional 1,005 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in Eaton by 54.1% during the 4th quarter. HBK Sorce Advisory LLC now owns 3,890 shares of the industrial products company’s stock worth $937,000 after purchasing an additional 1,365 shares during the period. Finally, B.O.S.S. Retirement Advisors LLC acquired a new stake in Eaton in the 4th quarter valued at about $235,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of ETN stock traded up $4.16 during trading hours on Friday, hitting $291.64. The stock had a trading volume of 2,190,467 shares, compared to its average volume of 2,186,878. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05. The firm has a market capitalization of $116.60 billion, a PE ratio of 34.43, a PEG ratio of 2.47 and a beta of 1.02. The stock’s 50 day moving average is $312.50 and its 200 day moving average is $306.43. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.29%. The ex-dividend date is Monday, August 5th. Eaton’s payout ratio is currently 44.39%.

Analysts Set New Price Targets

ETN has been the topic of a number of recent research reports. Barclays upped their target price on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Jefferies Financial Group lifted their price objective on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Mizuho reissued a “buy” rating and issued a $355.00 target price (up previously from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Finally, Raymond James started coverage on Eaton in a report on Friday, June 28th. They set an “outperform” rating and a $375.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.53.

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.