Eaton Co. plc (NYSE:ETN) Shares Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 74,196 shares of the industrial products company’s stock after acquiring an additional 2,311 shares during the period. Raymond James Trust N.A.’s holdings in Eaton were worth $23,264,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wedgewood Investors Inc. PA purchased a new stake in Eaton during the 2nd quarter worth approximately $722,000. Capital Advisors Ltd. LLC increased its holdings in Eaton by 4.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,603 shares of the industrial products company’s stock worth $503,000 after purchasing an additional 63 shares during the last quarter. Independence Bank of Kentucky increased its holdings in Eaton by 5.0% during the 2nd quarter. Independence Bank of Kentucky now owns 3,143 shares of the industrial products company’s stock worth $985,000 after purchasing an additional 151 shares during the last quarter. Optas LLC increased its holdings in Eaton by 11.3% during the 2nd quarter. Optas LLC now owns 880 shares of the industrial products company’s stock worth $276,000 after purchasing an additional 89 shares during the last quarter. Finally, WT Asset Management Ltd increased its holdings in Eaton by 1.0% during the 2nd quarter. WT Asset Management Ltd now owns 132,460 shares of the industrial products company’s stock worth $41,533,000 after purchasing an additional 1,260 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ETN has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. HSBC boosted their price target on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Jefferies Financial Group boosted their price target on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Royal Bank of Canada lowered their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $328.00.

Insider Buying and Selling

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

Eaton Stock Up 0.8 %

Shares of NYSE ETN traded up $2.31 during mid-day trading on Friday, reaching $300.00. The company had a trading volume of 1,950,652 shares, compared to its average volume of 2,173,366. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.56. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The stock’s 50 day moving average is $307.69 and its 200-day moving average is $310.05. The stock has a market capitalization of $119.94 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. The company 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%. As a group, equities analysts anticipate that Eaton Co. plc will post 10.66 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.25%. Eaton’s dividend payout ratio is currently 44.39%.

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.