LVW Advisors LLC Sells 242 Shares of Eaton Co. plc (NYSE:ETN)

LVW Advisors LLC lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 17.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,127 shares of the industrial products company’s stock after selling 242 shares during the period. LVW Advisors LLC’s holdings in Eaton were worth $353,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ETN. Tennessee Valley Asset Management Partners acquired a new position in shares of Eaton in the fourth quarter valued at about $25,000. LifeSteps Financial Inc. bought a new position in shares of Eaton during the first quarter worth approximately $25,000. Atwood & Palmer Inc. raised its position in shares of Eaton by 142.9% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after buying an additional 50 shares in the last quarter. Clear Investment Research LLC bought a new stake in shares of Eaton in the fourth quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new position in Eaton during the 1st quarter worth $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETN has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. HSBC upped their price target on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Argus boosted their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Jefferies Financial Group raised their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $326.53.

Eaton Trading Up 0.4 %

Shares of ETN stock traded up $1.07 on Tuesday, hitting $289.50. The company had a trading volume of 298,243 shares, compared to its average volume of 2,173,221. The stock’s 50-day moving average is $311.78 and its two-hundred day moving average is $307.63. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The firm has a market cap of $115.74 billion, a P/E ratio of 34.05, a P/E/G ratio of 2.47 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.56.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.30%. Eaton’s payout ratio is currently 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.