Cambridge Investment Research Advisors Inc. decreased its holdings in Eaton Co. plc (NYSE:ETN – Get Rating) by 3.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 53,402 shares of the industrial products company's stock after selling 1,939 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Eaton were worth $6,728,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Management Professionals Inc. increased its holdings in shares of Eaton by 288.6% in the 1st quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 127 shares during the period. Hazlett Burt & Watson Inc. acquired a new position in shares of Eaton in the 1st quarter valued at $30,000. Steward Financial Group LLC acquired a new position in shares of Eaton in the 1st quarter valued at $32,000. Baldwin Brothers LLC MA increased its stake in Eaton by 63.0% in the 1st quarter. Baldwin Brothers LLC MA now owns 220 shares of the industrial products company's stock valued at $33,000 after buying an additional 85 shares during the period. Finally, Princeton Global Asset Management LLC increased its stake in Eaton by 588.6% in the 1st quarter. Princeton Global Asset Management LLC now owns 241 shares of the industrial products company's stock valued at $37,000 after buying an additional 206 shares during the period. Hedge funds and other institutional investors own 80.54% of the company's stock.
Get Eaton alerts:Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Morgan Stanley boosted their target price on shares of Eaton from $170.00 to $176.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 3rd. Robert W. Baird set a $144.00 target price on shares of Eaton in a research report on Tuesday, August 2nd. Wells Fargo & Company boosted their price objective on shares of Eaton from $139.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 3rd. UBS Group reduced their target price on shares of Eaton from $192.00 to $173.00 and set a "buy" rating on the stock in a report on Wednesday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eaton from $178.00 to $156.00 and set a "buy" rating for the company in a research note on Wednesday, July 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Eaton has an average rating of "Moderate Buy" and an average price target of $160.15.
Insider Buying and Selling at Eaton
In other Eaton news, Director Deborah L. Mccoy sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $148.72, for a total value of $446,160.00. Following the sale, the director now owns 12,856 shares in the company, valued at $1,911,944.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Eaton news, insider Daniel Roy Hopgood sold 1,500 shares of the firm's stock in a transaction on Monday, August 15th. The stock was sold at an average price of $151.70, for a total transaction of $227,550.00. Following the transaction, the insider now owns 7,593 shares in the company, valued at approximately $1,151,858.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Deborah L. Mccoy sold 3,000 shares of the firm's stock in a transaction on Friday, August 5th. The stock was sold at an average price of $148.72, for a total value of $446,160.00. Following the transaction, the director now owns 12,856 shares in the company, valued at approximately $1,911,944.32. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company's stock.Eaton Stock Down 0.7 %
Shares of Eaton stock opened at $134.14 on Friday. Eaton Co. plc has a 1 year low of $122.50 and a 1 year high of $175.72. The business has a 50-day moving average of $143.05 and a two-hundred day moving average of $141.49. The company has a market capitalization of $53.43 billion, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 1.63 and a beta of 1.20. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.97 and a quick ratio of 0.58.
Eaton (NYSE:ETN – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.05. The company had revenue of $5.21 billion during the quarter, compared to analysts' expectations of $5.22 billion. Eaton had a return on equity of 17.04% and a net margin of 11.70%. Eaton's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 earnings per share. As a group, equities analysts predict that Eaton Co. plc will post 7.55 EPS for the current year.
Eaton Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were paid a $0.81 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $3.24 annualized dividend and a yield of 2.42%. Eaton's dividend payout ratio is 56.15%.
Eaton Profile
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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.
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