EP Wealth Advisors LLC Has $6.20 Million Stake in Eaton Co. plc (NYSE:ETN)

EP Wealth Advisors LLC lifted its holdings in Eaton Co. plc (NYSE:ETN) by 5.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 19,785 shares of the industrial products company’s stock after buying an additional 957 shares during the period. EP Wealth Advisors LLC’s holdings in Eaton were worth $6,204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. Kimelman & Baird LLC acquired a new position in Eaton in the second quarter valued at approximately $187,000. B. Riley Wealth Advisors Inc. boosted its stake in Eaton by 25.9% during the second quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock worth $8,657,000 after acquiring an additional 5,676 shares in the last quarter. Regal Investment Advisors LLC increased its stake in Eaton by 406.9% in the second quarter. Regal Investment Advisors LLC now owns 9,485 shares of the industrial products company’s stock valued at $2,974,000 after purchasing an additional 7,614 shares in the last quarter. Quarry LP bought a new position in shares of Eaton during the 2nd quarter worth about $84,000. Finally, Sunbelt Securities Inc. grew its stake in shares of Eaton by 6.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 2,347 shares of the industrial products company’s stock valued at $736,000 after buying an additional 132 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 0.9 %

Shares of ETN stock opened at $331.44 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The firm has a market cap of $132.51 billion, a P/E ratio of 39.13, a PEG ratio of 2.53 and a beta of 1.01. The company has a 50 day moving average of $301.25 and a 200-day moving average of $314.04. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.12. The firm 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%. Sell-side analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.13%. Eaton’s payout ratio is 44.39%.

Insider Activity at Eaton

In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eaton news, insider Michael Yelton sold 3,136 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ETN has been the subject of a number of research reports. Raymond James reduced 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 shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company reduced their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Morgan Stanley initiated coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Finally, Citigroup began 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. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $337.41.

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.