Strategy Asset Managers LLC Acquires 13,145 Shares of Eaton Co. plc (NYSE:ETN)

Strategy Asset Managers LLC grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 68.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,334 shares of the industrial products company’s stock after purchasing an additional 13,145 shares during the quarter. Eaton makes up about 2.0% of Strategy Asset Managers LLC’s holdings, making the stock its 10th biggest position. Strategy Asset Managers LLC’s holdings in Eaton were worth $10,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Larson Financial Group LLC boosted its stake in shares of Eaton by 5.6% during the second quarter. Larson Financial Group LLC now owns 13,124 shares of the industrial products company’s stock worth $4,115,000 after buying an additional 693 shares during the period. Foundations Investment Advisors LLC lifted its position in Eaton by 4.1% during the 2nd quarter. Foundations Investment Advisors LLC now owns 1,559 shares of the industrial products company’s stock worth $489,000 after acquiring an additional 61 shares during the period. Simon Quick Advisors LLC grew its stake in shares of Eaton by 30.7% in the 2nd quarter. Simon Quick Advisors LLC now owns 1,760 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 413 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Eaton by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 34,348 shares of the industrial products company’s stock valued at $10,770,000 after purchasing an additional 195 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new stake in shares of Eaton during the second quarter worth $1,195,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Evercore ISI decreased their target price 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. Barclays increased their price target on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Raymond James initiated coverage on shares of Eaton in a research report on Friday, June 28th. They set an “outperform” rating and a $375.00 target price on the stock. Finally, Royal Bank of Canada decreased their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $328.00.

Insider Buying and Selling

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 in the last quarter. Company insiders own 0.53% of the company’s stock.

Eaton Stock Up 0.4 %

Shares of ETN traded up $1.08 during mid-day trading on Wednesday, reaching $290.81. 646,003 shares of the stock traded hands, compared to its average volume of 2,164,905. The stock has a fifty day simple moving average of $304.15 and a 200 day simple moving average of $311.21. The firm has a market cap of $116.27 billion, a price-to-earnings ratio of 34.04, a P/E/G ratio of 2.35 and a beta of 1.02. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last released its earnings results 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 firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Sell-side analysts expect that Eaton Co. plc will post 10.74 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio is presently 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.