Dakota Wealth Management Has $5.75 Million Holdings in Eaton Co. plc (NYSE:ETN)

Dakota Wealth Management cut its stake in Eaton Co. plc (NYSE:ETN) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,331 shares of the industrial products company’s stock after selling 669 shares during the quarter. Dakota Wealth Management’s holdings in Eaton were worth $5,748,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Well Done LLC grew its stake in Eaton by 1.3% during the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 33 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Eaton by 1.7% during the first quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 34 shares during the last quarter. Fragasso Group Inc. boosted its holdings in shares of Eaton by 3.6% during the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 36 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in Eaton by 5.6% in the first quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company’s stock valued at $213,000 after acquiring an additional 36 shares during the last quarter. Finally, Wendell David Associates Inc. raised its position in Eaton by 4.0% in the first quarter. Wendell David Associates Inc. now owns 936 shares of the industrial products company’s stock valued at $293,000 after purchasing an additional 36 shares during the period. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ETN. Royal Bank of Canada decreased their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group upped their price objective on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Evercore ISI cut their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday. Argus raised their price objective on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Barclays raised their price target on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $328.00.

Insider Transactions at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were 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 approximately $21,451,287.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Eaton stock traded down $1.93 during midday trading on Tuesday, reaching $295.12. 431,291 shares of the company traded hands, compared to its average volume of 2,174,196. The firm has a market capitalization of $117.99 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02. The business has a 50 day moving average of $309.70 and a two-hundred day moving average of $309.28. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.27%. Eaton’s payout ratio is 44.39%.

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.