Eaton Co. plc (NYSE:ETN) Shares Acquired by Electron Capital Partners LLC

Electron Capital Partners LLC boosted its stake in Eaton Co. plc (NYSE:ETN) by 8,348.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 446,524 shares of the industrial products company’s stock after purchasing an additional 441,239 shares during the quarter. Eaton comprises 3.2% of Electron Capital Partners LLC’s investment portfolio, making the stock its 6th biggest position. Electron Capital Partners LLC’s holdings in Eaton were worth $140,008,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Gryphon Financial Partners LLC raised its stake in Eaton by 81.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock worth $565,000 after acquiring an additional 1,053 shares in the last quarter. JARISLOWSKY FRASER Ltd acquired a new position in Eaton during the fourth quarter worth about $389,000. Edmond DE Rothschild Holding S.A. raised its stake in Eaton by 200.0% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 540 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 360 shares in the last quarter. Focus Financial Network Inc. ADV acquired a new position in Eaton during the fourth quarter worth about $554,000. Finally, Legacy Advisors LLC raised its stake in Eaton by 7.5% during the fourth quarter. Legacy Advisors LLC now owns 1,370 shares of the industrial products company’s stock worth $330,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company lowered their target price 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. Raymond James lowered their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Jefferies Financial Group upped their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Morgan Stanley began coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Finally, Evercore ISI lowered their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $337.41.

Eaton Price Performance

Eaton stock opened at $328.57 on Thursday. The stock has a market capitalization of $130.80 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 2.53 and a beta of 1.01. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. The stock’s 50 day moving average price is $299.89 and its two-hundred day moving average price is $313.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, equities analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is currently 44.39%.

Insider Activity at Eaton

In other news, 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 directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, 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. In the last three months, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is owned by insiders.

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.