Driehaus Capital Management LLC Has $278,000 Stock Holdings in Eaton Co. plc (NYSE:ETN)

Driehaus Capital Management LLC reduced its holdings in shares of Eaton Co. plc (NYSE:ETN) by 15.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 887 shares of the industrial products company’s stock after selling 159 shares during the period. Driehaus Capital Management LLC’s holdings in Eaton were worth $278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. J. W. Coons Advisors LLC raised its holdings in shares of Eaton by 2.1% in the 4th quarter. J. W. Coons Advisors LLC now owns 12,979 shares of the industrial products company’s stock worth $3,126,000 after buying an additional 265 shares in the last quarter. CWA Asset Management Group LLC raised its stake in Eaton by 10.8% during the fourth quarter. CWA Asset Management Group LLC now owns 7,090 shares of the industrial products company’s stock worth $1,707,000 after acquiring an additional 690 shares in the last quarter. NEOS Investment Management LLC lifted its holdings in shares of Eaton by 27.8% during the fourth quarter. NEOS Investment Management LLC now owns 8,159 shares of the industrial products company’s stock valued at $1,965,000 after acquiring an additional 1,776 shares during the period. Rafferty Asset Management LLC boosted its stake in shares of Eaton by 5.5% in the 4th quarter. Rafferty Asset Management LLC now owns 33,490 shares of the industrial products company’s stock valued at $8,065,000 after purchasing an additional 1,757 shares in the last quarter. Finally, Peapack Gladstone Financial Corp grew its holdings in shares of Eaton by 1.8% in the 4th quarter. Peapack Gladstone Financial Corp now owns 13,317 shares of the industrial products company’s stock worth $3,207,000 after purchasing an additional 233 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 0.9 %

NYSE:ETN opened at $331.44 on Tuesday. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The stock has a 50-day moving average price of $301.25 and a two-hundred day moving average price of $314.04. The stock has a market cap of $132.51 billion, a price-to-earnings ratio of 39.13, a PEG ratio of 2.53 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 (NYSE:ETN) last issued its quarterly earnings data 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 business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, equities analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio is presently 44.39%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ETN. Jefferies Financial Group boosted their price target on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Barclays raised their price objective on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Evercore ISI dropped their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Royal Bank of Canada dropped their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $337.41.

Insider Buying and Selling at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction 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. In the last quarter, insiders have sold 52,511 shares of company stock worth $15,809,326. Corporate insiders own 0.53% of the company’s stock.

About Eaton

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.