Ensign Peak Advisors Inc Buys 5,035 Shares of Eaton Co. plc (NYSE:ETN)

Ensign Peak Advisors Inc raised its stake in Eaton Co. plc (NYSE:ETN) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,259 shares of the industrial products company’s stock after acquiring an additional 5,035 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Eaton were worth $25,792,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Thrivent Financial for Lutherans raised its holdings in Eaton by 110.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 57,820 shares of the industrial products company’s stock valued at $18,129,000 after acquiring an additional 30,319 shares during the period. Sei Investments Co. grew its position in shares of Eaton by 63.9% during the 2nd quarter. Sei Investments Co. now owns 465,162 shares of the industrial products company’s stock worth $145,847,000 after purchasing an additional 181,405 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Eaton by 4.7% during the 2nd quarter. Pacer Advisors Inc. now owns 32,897 shares of the industrial products company’s stock worth $10,315,000 after purchasing an additional 1,483 shares in the last quarter. AE Wealth Management LLC grew its position in shares of Eaton by 18.5% during the 2nd quarter. AE Wealth Management LLC now owns 28,675 shares of the industrial products company’s stock worth $8,991,000 after purchasing an additional 4,479 shares in the last quarter. Finally, King Luther Capital Management Corp grew its position in shares of Eaton by 19.4% during the 2nd quarter. King Luther Capital Management Corp now owns 3,327 shares of the industrial products company’s stock worth $1,043,000 after purchasing an additional 541 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton 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 transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,511 shares of company stock valued at $15,809,326. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ETN shares. 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. Citigroup started coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Raymond James decreased their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Wells Fargo & Company decreased their target price 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. Finally, Jefferies Financial Group increased their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $337.41.

Eaton Stock Performance

Shares of Eaton stock opened at $330.60 on Monday. 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. The firm has a market capitalization of $132.17 billion, a P/E ratio of 39.03, a P/E/G ratio of 2.28 and a beta of 1.01. The company’s 50 day moving average price is $299.93 and its two-hundred day moving average price is $312.71.

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

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, August 5th. Eaton’s payout ratio is currently 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.