Sand Hill Global Advisors LLC Has $4.50 Million Stock Holdings in Eaton Corporation, PLC $ETN

Sand Hill Global Advisors LLC lessened its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 1.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 16,553 shares of the industrial products company’s stock after selling 191 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in Eaton were worth $4,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Aptus Capital Advisors LLC raised its stake in Eaton by 7.1% in the 1st quarter. Aptus Capital Advisors LLC now owns 42,965 shares of the industrial products company’s stock worth $11,679,000 after purchasing an additional 2,861 shares in the last quarter. Brooklyn Investment Group raised its stake in Eaton by 23.9% in the 1st quarter. Brooklyn Investment Group now owns 5,132 shares of the industrial products company’s stock worth $1,395,000 after purchasing an additional 991 shares in the last quarter. Valley Brook Capital Group Inc. raised its stake in Eaton by 16.2% in the 1st quarter. Valley Brook Capital Group Inc. now owns 1,505 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 210 shares in the last quarter. George Kaiser Family Foundation acquired a new stake in Eaton in the 1st quarter worth about $257,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Eaton by 3.5% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 147,508 shares of the industrial products company’s stock worth $40,097,000 after purchasing an additional 4,956 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Down 1.2%

Shares of NYSE ETN opened at $350.87 on Monday. The company has a market capitalization of $136.59 billion, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 2.59 and a beta of 1.18. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $399.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 1.24. The company’s 50 day moving average price is $358.11 and its 200-day moving average price is $318.70.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.03. The firm had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.73 EPS. Equities analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, August 7th. Eaton’s payout ratio is presently 41.85%.

Insider Activity

In related news, insider Olivier Leonetti sold 16,018 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $358.39, for a total transaction of $5,740,691.02. Following the transaction, the insider owned 630 shares in the company, valued at $225,785.70. The trade was a 96.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank Of Canada raised their target price on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Sanford C. Bernstein reissued an “outperform” rating and issued a $396.00 target price on shares of Eaton in a report on Monday, July 14th. BNP Paribas assumed coverage on shares of Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 target price on the stock. Citigroup raised their target price on shares of Eaton from $420.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Eaton from $345.00 to $382.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $383.63.

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.