Mutual of America Capital Management LLC Has $15.82 Million Position in Eaton Co. plc (NYSE:ETN)

Mutual of America Capital Management LLC lessened its stake in Eaton Co. plc (NYSE:ETN) by 3.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 50,438 shares of the industrial products company’s stock after selling 1,931 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Eaton were worth $15,815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LifeSteps Financial Inc. acquired a new position in shares of Eaton in the first quarter valued at approximately $25,000. Breakwater Investment Management boosted its holdings in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after buying an additional 78 shares during the period. Atwood & Palmer Inc. boosted its holdings 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 during the period. Proffitt & Goodson Inc. bought a new stake in shares of Eaton in the second quarter worth $29,000. Finally, LGT Financial Advisors LLC bought a new stake in shares of Eaton in the second quarter worth $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ETN shares. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company cut their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada cut their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Evercore ISI cut their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, Citigroup initiated coverage on shares of Eaton in a research report on Monday. They set a “buy” rating and a $348.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $337.41.

Eaton Price Performance

Shares of ETN opened at $311.70 on Wednesday. The firm has a market capitalization of $124.62 billion, a PE ratio of 36.80, a PEG ratio of 2.28 and a beta of 1.01. The company’s 50-day moving average is $300.17 and its 200-day moving average is $312.08. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Equities analysts forecast that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.21%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Activity at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, 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 three months, insiders have sold 52,511 shares of company stock worth $15,809,326. Corporate 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.