AQR Capital Management LLC Has $159.88 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

AQR Capital Management LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 63.6% in the second quarter, Holdings Channel.com reports. The firm owned 509,906 shares of the industrial products company’s stock after buying an additional 198,180 shares during the quarter. AQR Capital Management LLC’s holdings in Eaton were worth $159,881,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. LifeSteps Financial Inc. acquired a new position in Eaton during the 1st quarter worth approximately $25,000. Breakwater Investment Management increased its position in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Atwood & Palmer Inc. increased its position in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares in the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton during the 2nd quarter worth approximately $29,000. Finally, LGT Financial Advisors LLC acquired a new position in Eaton in the 2nd quarter valued at approximately $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction 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 transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the firm’s 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 transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last ninety days. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Barclays upped their price target on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Wells Fargo & Company decreased their price target on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Citigroup assumed coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target for the company. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $337.41.

Eaton Stock Up 0.4 %

Shares of NYSE ETN opened at $328.57 on Thursday. The firm has a market cap of $130.80 billion, a PE ratio of 38.79, a P/E/G ratio of 2.53 and a beta of 1.01. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. The company’s fifty day simple moving average is $299.89 and its 200 day simple moving average is $313.12. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44.

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, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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