LFA Lugano Financial Advisors SA Makes New Investment in Eaton Co. PLC (NYSE:ETN)

LFA Lugano Financial Advisors SA bought a new position in shares of Eaton Co. PLC (NYSE:ETN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,496 shares of the industrial products company’s stock, valued at approximately $291,000.

A number of other hedge funds have also bought and sold shares of the business. Boston Partners boosted its position in shares of Eaton by 40.9% during the first quarter. Boston Partners now owns 10,269,144 shares of the industrial products company’s stock worth $827,282,000 after buying an additional 2,978,615 shares during the period. Geode Capital Management LLC boosted its position in shares of Eaton by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 5,457,569 shares of the industrial products company’s stock worth $374,165,000 after buying an additional 288,837 shares during the period. Wells Fargo & Company MN boosted its position in shares of Eaton by 1.9% during the first quarter. Wells Fargo & Company MN now owns 4,830,591 shares of the industrial products company’s stock worth $389,152,000 after buying an additional 91,805 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Eaton by 9.6% during the first quarter. Parametric Portfolio Associates LLC now owns 1,618,972 shares of the industrial products company’s stock worth $130,424,000 after buying an additional 141,272 shares during the period. Finally, Swiss National Bank boosted its position in shares of Eaton by 2.7% during the first quarter. Swiss National Bank now owns 1,446,678 shares of the industrial products company’s stock worth $116,544,000 after buying an additional 37,800 shares during the period. 77.35% of the stock is owned by institutional investors.

ETN has been the subject of several research analyst reports. Barclays restated a “sell” rating and set a $76.00 price target on shares of Eaton in a research report on Thursday, June 6th. Morgan Stanley raised their price target on Eaton from $88.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada set a $84.00 price target on Eaton and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank set a $96.00 price target on Eaton and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $88.55.

NYSE:ETN traded up $1.41 during midday trading on Friday, reaching $77.32. The company had a trading volume of 1,649,700 shares, compared to its average volume of 2,710,816. The firm has a market capitalization of $31.58 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.46 and a beta of 1.44. The stock’s fifty day simple moving average is $80.41 and its 200-day simple moving average is $80.28. 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 released its earnings results on Tuesday, July 30th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.02. The firm had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.63 billion. Eaton had a return on equity of 14.88% and a net margin of 10.16%. Eaton’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $1.39 earnings per share. As a group, sell-side analysts expect that Eaton Co. PLC will post 5.87 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were issued a $0.71 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $2.84 dividend on an annualized basis and a yield of 3.67%. Eaton’s dividend payout ratio (DPR) is presently 52.69%.

In related news, insider Joao V. Faria sold 4,301 shares of Eaton stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $80.00, for a total value of $344,080.00. Following the completion of the transaction, the insider now directly owns 58,688 shares in the company, valued at $4,695,040. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Richard H. Fearon sold 80,592 shares of Eaton stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $82.75, for a total value of $6,668,988.00. Following the completion of the transaction, the insider now owns 270,097 shares of the company’s stock, valued at $22,350,526.75. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Eaton Company Profile

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.

Read More: What Is An Exchange-Traded Fund (ETF)?

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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