Eaton Co. plc (NYSE:ETN) Position Increased by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 7,151 shares of the industrial products company’s stock after acquiring an additional 240 shares during the period. Johnson Investment Counsel Inc.’s holdings in Eaton were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. RB Capital Management LLC grew its position in Eaton by 3.5% in the 1st quarter. RB Capital Management LLC now owns 2,759 shares of the industrial products company’s stock worth $419,000 after purchasing an additional 94 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Eaton by 74.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 101,412 shares of the industrial products company’s stock worth $15,390,000 after buying an additional 43,381 shares in the last quarter. Baird Financial Group Inc. increased its position in Eaton by 0.6% in the 1st quarter. Baird Financial Group Inc. now owns 374,204 shares of the industrial products company’s stock valued at $56,790,000 after acquiring an additional 2,057 shares during the period. Mather Group LLC. raised its stake in Eaton by 9.1% during the 1st quarter. Mather Group LLC. now owns 2,682 shares of the industrial products company’s stock valued at $407,000 after acquiring an additional 223 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in Eaton during the 1st quarter worth $1,188,000. 81.02% of the stock is currently owned by institutional investors.

Eaton Trading Up 0.4 %

Shares of ETN opened at $227.80 on Monday. The business’s 50-day moving average price is $213.10 and its 200 day moving average price is $204.76. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $90.96 billion, a P/E ratio of 30.50, a P/E/G ratio of 2.18 and a beta of 1.07. Eaton Co. plc has a 1-year low of $150.86 and a 1-year high of $240.44.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, October 31st. The industrial products company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.13. The business had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.89 billion. Eaton had a net margin of 13.24% and a return on equity of 19.49%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $2.02 earnings per share. Analysts expect that Eaton Co. plc will post 9.02 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Monday, November 6th will be issued a $0.86 dividend. The ex-dividend date is Friday, November 3rd. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.51%. Eaton’s payout ratio is currently 46.05%.

Insider Activity

In related news, insider Taras G. Jr. Szmagala sold 1,869 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $226.68, for a total value of $423,664.92. Following the completion of the sale, the insider now directly owns 7,431 shares of the company’s stock, valued at approximately $1,684,459.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Taras G. Jr. Szmagala sold 1,869 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $226.68, for a total value of $423,664.92. Following the completion of the sale, the insider now directly owns 7,431 shares of the company’s stock, valued at $1,684,459.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas B. Okray sold 4,950 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $231.09, for a total transaction of $1,143,895.50. Following the transaction, the insider now directly owns 7,367 shares in the company, valued at $1,702,440.03. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ETN has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Eaton from $235.00 to $238.00 and gave the company an “overweight” rating in a research note on Monday, September 25th. Argus upped their price target on shares of Eaton from $195.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Wells Fargo & Company lowered their price objective on shares of Eaton from $228.00 to $210.00 in a research note on Monday, October 9th. Barclays upped their target price on Eaton from $185.00 to $187.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 1st. Finally, StockNews.com started coverage on Eaton in a research report on Thursday, October 5th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $219.23.

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.