Callan Family Office LLC Acquires Shares of 665 Eaton Co. plc (NYSE:ETN)

Callan Family Office LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 665 shares of the industrial products company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Capital Group California Inc. raised its holdings in shares of Eaton by 1.2% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after acquiring an additional 32 shares during the period. Well Done LLC increased 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 buying an additional 33 shares during the period. Verdence Capital Advisors LLC increased its position 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 acquiring an additional 34 shares during the period. Fragasso Group Inc. raised its position in Eaton by 3.6% in the 1st quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock valued at $323,000 after purchasing an additional 36 shares in the last quarter. Finally, Valley National Advisers Inc. raised 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 in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

ETN stock opened at $296.91 on Tuesday. The company has a market cap of $118.70 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 2.47 and a beta of 1.02. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $307.12 and a 200-day moving average of $310.22. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19.

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. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. As a group, equities analysts expect that Eaton Co. plc will post 10.66 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced 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. This represents a $3.76 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Monday, August 5th. Eaton’s payout ratio is currently 44.39%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction on Monday, August 12th. The stock was 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 directly owns 9,900 shares in the company, valued at $2,858,328. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 completion of the sale, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Evercore ISI cut their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group increased their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their target price on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Wells Fargo & Company reduced their price objective on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, 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 research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $328.00.

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.