One Capital Management LLC Invests $511,000 in Eaton Co. plc (NYSE:ETN)

One Capital Management LLC acquired a new position in Eaton Co. plc (NYSE:ETN) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 1,629 shares of the industrial products company’s stock, valued at approximately $511,000.

Other hedge funds have also recently made changes to their positions in the company. Congress Wealth Management LLC DE boosted its stake in shares of Eaton by 8.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock worth $18,479,000 after acquiring an additional 5,725 shares during the period. Norden Group LLC bought a new position in Eaton during the first quarter valued at approximately $2,176,000. Weiss Asset Management LP bought a new position in Eaton during the fourth quarter valued at approximately $1,001,000. Prospector Partners LLC boosted its stake in Eaton by 0.6% during the fourth quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock valued at $17,172,000 after buying an additional 415 shares during the last quarter. Finally, Griffin Asset Management Inc. bought a new position in Eaton during the first quarter valued at approximately $813,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton 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 filing with the SEC, which is available at the SEC website. In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton 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 transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Raymond James dropped their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Citigroup assumed coverage on Eaton in a research note on Monday. They set a “buy” rating and a $348.00 price target for the company. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company dropped their price target 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 upped their price objective on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $337.41.

Eaton Price Performance

Shares of ETN stock opened at $311.70 on Wednesday. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. 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 firm has a market capitalization of $124.62 billion, a P/E ratio of 36.80, a P/E/G ratio of 2.28 and a beta of 1.01. The stock has a 50 day moving average price of $300.17 and a 200 day moving average price of $312.08.

Eaton (NYSE:ETN) last issued 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. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. As a group, sell-side analysts predict that Eaton Co. plc will post 10.74 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. 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 1.21%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

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.