Sagefield Capital LP Buys 9,923 Shares of Eaton Co. plc (NYSE:ETN)

Sagefield Capital LP boosted its stake in Eaton Co. plc (NYSE:ETN) by 288.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,358 shares of the industrial products company’s stock after purchasing an additional 9,923 shares during the quarter. Sagefield Capital LP’s holdings in Eaton were worth $4,188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETN. Vanguard Group Inc. increased its holdings in Eaton by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company’s stock worth $8,812,966,000 after acquiring an additional 259,615 shares during the period. Coatue Management LLC increased its holdings in shares of Eaton by 5.2% in the fourth quarter. Coatue Management LLC now owns 3,986,445 shares of the industrial products company’s stock worth $960,016,000 after purchasing an additional 195,809 shares during the period. Capital World Investors raised its position in shares of Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after buying an additional 2,439,270 shares in the last quarter. TD Asset Management Inc boosted its stake in Eaton by 19.9% during the fourth quarter. TD Asset Management Inc now owns 2,029,795 shares of the industrial products company’s stock valued at $488,815,000 after buying an additional 337,351 shares during the period. Finally, Stifel Financial Corp grew its position in Eaton by 1.3% during the fourth quarter. Stifel Financial Corp now owns 1,480,444 shares of the industrial products company’s stock worth $356,535,000 after buying an additional 19,529 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Down 0.3 %

Shares of Eaton stock opened at $329.69 on Tuesday. 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 company’s 50 day moving average price is $299.99 and its 200-day moving average price is $312.91. The stock has a market capitalization of $131.81 billion, a price-to-earnings ratio of 38.92, a P/E/G ratio of 2.28 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Equities research analysts forecast that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. Eaton’s dividend payout ratio is presently 44.39%.

Analyst Ratings Changes

Several research firms have weighed in on ETN. Royal Bank of Canada lowered their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Barclays boosted their price target on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Evercore ISI cut their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Raymond James reduced their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $337.41.

Insiders Place Their Bets

In other news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction that occurred 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 $21,451,287.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karenann K. Terrell acquired 500 shares of Eaton stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is currently owned by company insiders.

Eaton Company 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.