Blair William & Co. IL Purchases 2,999 Shares of Eaton Co. plc (NYSE:ETN)

Blair William & Co. IL lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 61,673 shares of the industrial products company’s stock after acquiring an additional 2,999 shares during the quarter. Blair William & Co. IL’s holdings in Eaton were worth $19,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ETN. Capital World Investors grew its stake in shares of Eaton by 323.8% during the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after acquiring an additional 2,439,270 shares during the period. Jennison Associates LLC grew its stake in shares of Eaton by 2,857.4% during the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after acquiring an additional 1,219,790 shares during the period. Balyasny Asset Management L.P. lifted its holdings in Eaton by 2,006.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after purchasing an additional 918,936 shares in the last quarter. Swedbank AB purchased a new stake in Eaton during the 2nd quarter worth about $225,974,000. Finally, Artisan Partners Limited Partnership lifted its holdings in Eaton by 207.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock worth $233,698,000 after purchasing an additional 654,855 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ETN. Jefferies Financial Group increased their price objective on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Citigroup began coverage on Eaton in a report on Monday. They set a “buy” rating and a $348.00 price objective on the stock. Royal Bank of Canada dropped their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Evercore ISI lowered their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $337.41.

Insider Buying and Selling

In related news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton 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 transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton 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 transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton 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 in the company, valued at $2,858,328. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 in the last ninety days. 0.53% of the stock is owned by insiders.

Eaton Stock Performance

Shares of NYSE ETN opened at $314.65 on Thursday. The stock has a market cap of $125.80 billion, a price-to-earnings ratio of 37.15, a P/E/G 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 Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The stock’s 50-day moving average is $299.93 and its 200 day moving average is $312.10.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.19%. Eaton’s payout ratio is 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.