Eaton Co. plc (NYSE:ETN) Stake Raised by Wulff Hansen & CO.

Wulff Hansen & CO. raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 31,255.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,164 shares of the industrial products company’s stock after acquiring an additional 476,639 shares during the quarter. Eaton makes up 0.8% of Wulff Hansen & CO.’s investment portfolio, making the stock its 25th largest holding. Wulff Hansen & CO. owned 0.12% of Eaton worth $149,928,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ETN. Legacy Capital Group California Inc. raised its stake in shares of Eaton by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after acquiring an additional 32 shares during the last quarter. Well Done LLC increased its stake in shares of Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after buying an additional 33 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Eaton by 1.7% in the first quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company’s stock valued at $644,000 after buying an additional 34 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of Eaton by 1.7% in the second quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock valued at $644,000 after buying an additional 35 shares during the last quarter. Finally, Fragasso Group Inc. grew its holdings in Eaton by 3.6% during the 1st quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock worth $323,000 after acquiring an additional 36 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of NYSE ETN opened at $306.55 on Tuesday. The company has a fifty day moving average price of $300.31 and a 200 day moving average price of $311.96. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The firm has a market cap of $122.56 billion, a PE ratio of 36.19, a PEG ratio of 2.28 and a beta of 1.01. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 21.45% and a net margin of 15.12%. Research analysts predict that Eaton Co. plc will post 10.74 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 given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio is currently 44.39%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ETN. Royal Bank of Canada dropped their target price on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Raymond James dropped their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Wells Fargo & Company lowered their price objective on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Citigroup began coverage on shares of Eaton in a research report on Monday. They set a “buy” rating and a $348.00 target price for the company. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $337.41.

Insider Activity at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Eaton news, Director Karenann K. Terrell purchased 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the purchase, the director now owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’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 owns 9,900 shares in the company, valued at $2,858,328. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,511 shares of company stock valued at $15,809,326. Insiders own 0.53% of the company’s stock.

Eaton Company 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.