Silver Lake Advisory LLC Increases Stock Position in Eaton Co. plc (NYSE:ETN)

Silver Lake Advisory LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 6.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,632 shares of the industrial products company’s stock after buying an additional 550 shares during the quarter. Silver Lake Advisory LLC’s holdings in Eaton were worth $3,020,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Gryphon Financial Partners LLC boosted its position in shares of Eaton by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock worth $565,000 after purchasing an additional 1,053 shares in the last quarter. Focus Financial Network Inc. ADV acquired a new stake in shares of Eaton in the fourth quarter valued at about $554,000. J. W. Coons Advisors LLC boosted its holdings in Eaton by 2.1% during the fourth quarter. J. W. Coons Advisors LLC now owns 12,979 shares of the industrial products company’s stock worth $3,126,000 after buying an additional 265 shares in the last quarter. Scotia Capital Inc. grew its position in Eaton by 206.1% during the fourth quarter. Scotia Capital Inc. now owns 24,381 shares of the industrial products company’s stock worth $5,871,000 after buying an additional 16,417 shares during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in Eaton by 70.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 4,944 shares of the industrial products company’s stock valued at $1,191,000 after buying an additional 2,048 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Trading Down 1.4 %

Shares of ETN opened at $328.45 on Friday. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The stock has a fifty day moving average of $301.03 and a two-hundred day moving average of $313.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company has a market capitalization of $131.31 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 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 firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. As a group, analysts forecast that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued 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 1.14%. Eaton’s dividend payout ratio (DPR) is 44.39%.

Analysts Set New Price Targets

ETN has been the topic of a number of research reports. Jefferies Financial Group upped their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Citigroup started coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price target for the company. Morgan Stanley assumed coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Finally, Barclays lifted their target price on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $337.41.

Insider Activity

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, 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 filing with the SEC, which is available at this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the business’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 transaction, 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 have sold 52,511 shares of company stock valued at $15,809,326 in the last three months. Corporate insiders own 0.53% of the company’s stock.

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.