Signet Investment Advisory Group Inc. boosted its position in shares of Eaton Co. PLC (NYSE:ETN) by 17.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,705 shares of the industrial products company’s stock after purchasing an additional 1,010 shares during the period. Signet Investment Advisory Group Inc.’s holdings in Eaton were worth $558,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ETN. Comerica Securities Inc. grew its holdings in shares of Eaton by 7.6% in the 4th quarter. Comerica Securities Inc. now owns 5,112 shares of the industrial products company’s stock worth $351,000 after acquiring an additional 361 shares during the period. Geode Capital Management LLC raised its position in shares of Eaton by 5.6% in the 4th 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. Financial Gravity Wealth Inc. purchased a new position in shares of Eaton in the 1st quarter worth $25,000. CWM LLC raised its position in shares of Eaton by 3.9% in the 1st quarter. CWM LLC now owns 32,754 shares of the industrial products company’s stock worth $2,639,000 after buying an additional 1,230 shares during the period. Finally, Bartlett & Co. LLC raised its position in shares of Eaton by 7.0% in the 1st quarter. Bartlett & Co. LLC now owns 3,258 shares of the industrial products company’s stock worth $262,000 after buying an additional 214 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.
NYSE:ETN traded down $1.90 during mid-day trading on Friday, hitting $76.47. The company had a trading volume of 1,046,476 shares, compared to its average volume of 2,630,777. The business has a fifty day simple moving average of $79.87 and a 200-day simple moving average of $80.27. 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 Co. PLC has a 1 year low of $64.46 and a 1 year high of $89.46. The firm has a market capitalization of $32.83 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 1.52 and a beta of 1.44.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.71%. The ex-dividend date was Thursday, August 1st. Eaton’s dividend payout ratio (DPR) is presently 52.69%.
In other Eaton news, insider Richard H. Fearon sold 80,592 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $82.75, for a total value of $6,668,988.00. Following the transaction, the insider now directly owns 270,097 shares of the company’s stock, valued at $22,350,526.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.
Several research analysts recently weighed in on the company. Morgan Stanley increased their target price on Eaton from $88.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Deutsche Bank set a $96.00 target price on Eaton and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays reaffirmed a “sell” rating and issued a $76.00 target price on shares of Eaton in a research report on Thursday, June 6th. Finally, Royal Bank of Canada set a $84.00 target price on Eaton and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $88.55.
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.
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