Eaton Co. PLC (NYSE:ETN) Shares Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC increased its stake in Eaton Co. PLC (NYSE:ETN) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 99,601 shares of the industrial products company’s stock after acquiring an additional 2,320 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Eaton were worth $8,294,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. Wells Trecaso Financial Group LLC lifted its position in Eaton by 1.0% during the first quarter. Wells Trecaso Financial Group LLC now owns 56,523 shares of the industrial products company’s stock valued at $4,553,000 after buying an additional 552 shares in the last quarter. Grove Bank & Trust lifted its position in Eaton by 1.3% during the second quarter. Grove Bank & Trust now owns 9,343 shares of the industrial products company’s stock valued at $778,000 after buying an additional 124 shares in the last quarter. Nelson Roberts Investment Advisors LLC lifted its position in Eaton by 0.7% during the first quarter. Nelson Roberts Investment Advisors LLC now owns 68,262 shares of the industrial products company’s stock valued at $5,499,000 after buying an additional 495 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in Eaton by 9.4% during the second quarter. Carroll Financial Associates Inc. now owns 6,954 shares of the industrial products company’s stock valued at $579,000 after buying an additional 600 shares in the last quarter. Finally, Cedar Brook Financial Partners LLC lifted its position in Eaton by 4.9% during the first quarter. Cedar Brook Financial Partners LLC now owns 10,116 shares of the industrial products company’s stock valued at $815,000 after buying an additional 469 shares in the last quarter. 76.72% of the stock is currently owned by institutional investors and hedge funds.

Shares of ETN traded up $1.35 during mid-day trading on Tuesday, reaching $78.18. 897,981 shares of the stock traded hands, compared to its average volume of 2,473,801. The stock has a market cap of $33.31 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44. The firm has a fifty day moving average of $81.18. Eaton Co. PLC has a 12-month low of $64.46 and a 12-month high of $89.46. The company has a current ratio of 1.83, a quick ratio of 1.18 and a debt-to-equity ratio of 0.51.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.63 billion. Eaton had a net margin of 10.16% and a return on equity of 14.88%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 earnings per share. As a group, research analysts predict that Eaton Co. PLC will post 5.88 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.63%. Eaton’s dividend payout ratio (DPR) is presently 52.69%.

In other Eaton news, insider Richard H. Fearon sold 80,592 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $82.75, for a total transaction of $6,668,988.00. Following the completion of the sale, the insider now owns 270,097 shares in the company, valued at $22,350,526.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson bought 1,655 shares of the stock in a transaction on Monday, May 13th. The shares were acquired at an average price of $78.54 per share, with a total value of $129,983.70. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by insiders.

ETN has been the topic of a number of recent research reports. Deutsche Bank set a $96.00 price target on shares of Eaton and gave the company a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their price target on shares of Eaton from $88.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada set a $84.00 price objective on shares of Eaton and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Barclays reiterated a “sell” rating and set a $76.00 price objective on shares of Eaton in a research note on Thursday, June 6th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $89.00.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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