Dorsey Wright & Associates Purchases 184 Shares of Eaton Co. plc (NYSE:ETN)

Dorsey Wright & Associates boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,237 shares of the industrial products company’s stock after acquiring an additional 184 shares during the quarter. Dorsey Wright & Associates’ holdings in Eaton were worth $2,269,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ETN. Vanguard Group Inc. boosted its position in Eaton by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company’s stock worth $8,812,966,000 after purchasing an additional 259,615 shares during the period. Coatue Management LLC boosted its holdings in shares of Eaton by 5.2% during the 4th quarter. Coatue Management LLC now owns 3,986,445 shares of the industrial products company’s stock worth $960,016,000 after buying an additional 195,809 shares during the period. Legal & General Group Plc grew its stake in Eaton by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after buying an additional 18,077 shares during the last quarter. Capital World Investors lifted its position in Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after acquiring an additional 2,439,270 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Eaton by 15.5% during the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after acquiring an additional 176,571 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the subject of several research reports. Morgan Stanley initiated coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Barclays lifted their price objective 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. Wells Fargo & Company decreased their target price on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price target on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $337.41.

Eaton Price Performance

ETN stock opened at $328.18 on Friday. The stock has a market cap of $130.65 billion, a price-to-earnings ratio of 38.75, a P/E/G ratio of 2.53 and a beta of 1.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The company has a 50 day simple moving average of $300.70 and a 200 day simple moving average of $313.37. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19.

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

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s payout ratio is 44.39%.

Insider Transactions at Eaton

In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the 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 sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karenann K. Terrell bought 500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now directly owns 500 shares in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company’s stock.

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.