EP Wealth Advisors LLC Purchases 957 Shares of Eaton Co. plc (NYSE:ETN)

EP Wealth Advisors LLC raised its position in Eaton Co. plc (NYSE:ETN) by 5.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,785 shares of the industrial products company’s stock after buying an additional 957 shares during the period. EP Wealth Advisors LLC’s holdings in Eaton were worth $6,204,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ETN. Capital World Investors grew its position in 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 last quarter. Jennison Associates LLC raised its holdings in shares of Eaton by 2,857.4% in the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after buying an additional 1,219,790 shares during the last quarter. Balyasny Asset Management L.P. lifted its position 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 buying an additional 918,936 shares in the last quarter. Swedbank AB bought a new stake in Eaton during the 2nd quarter worth about $225,974,000. Finally, Assenagon Asset Management S.A. increased its position in Eaton by 1,604.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after acquiring an additional 634,059 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Activity at Eaton

In related news, Director Karenann K. Terrell bought 500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at approximately $149,485. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Karenann K. Terrell acquired 500 shares of Eaton stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the purchase, the director now owns 500 shares of the company’s stock, valued at $149,485. The disclosure for this purchase can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 in the last quarter. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

ETN opened at $331.44 on Tuesday. The firm has a market cap of $132.51 billion, a P/E ratio of 39.13, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. The business’s fifty day moving average is $301.25 and its 200-day moving average is $314.04.

Eaton (NYSE:ETN) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Sell-side analysts expect that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed 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. 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 44.39%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Raymond James decreased their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Barclays upped their target price 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. Wells Fargo & Company decreased their target price on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $337.41.

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.