Westshore Wealth LLC Purchases Shares of 2,436 Eaton Co. plc (NYSE:ETN)

Westshore Wealth LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETNGet Rating) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,436 shares of the industrial products company’s stock, valued at approximately $307,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burney Co. lifted its stake in Eaton by 1.0% in the 1st quarter. Burney Co. now owns 7,103 shares of the industrial products company’s stock valued at $1,078,000 after acquiring an additional 68 shares in the last quarter. Oldfather Financial Services LLC lifted its stake in Eaton by 1.8% in the 4th quarter. Oldfather Financial Services LLC now owns 4,229 shares of the industrial products company’s stock valued at $664,000 after acquiring an additional 73 shares in the last quarter. Trust Investment Advisors lifted its stake in Eaton by 0.8% in the 1st quarter. Trust Investment Advisors now owns 9,530 shares of the industrial products company’s stock valued at $1,446,000 after acquiring an additional 73 shares in the last quarter. Crescent Grove Advisors LLC lifted its stake in Eaton by 1.6% in the 1st quarter. Crescent Grove Advisors LLC now owns 4,697 shares of the industrial products company’s stock valued at $713,000 after acquiring an additional 74 shares in the last quarter. Finally, MCF Advisors LLC lifted its stake in Eaton by 4.9% in the 1st quarter. MCF Advisors LLC now owns 1,655 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 77 shares in the last quarter. 80.54% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

ETN traded down $1.37 during trading on Friday, hitting $133.76. The stock had a trading volume of 37,443 shares, compared to its average volume of 1,527,386. The company has a 50 day moving average price of $142.94 and a 200-day moving average price of $141.63. The firm has a market cap of $53.28 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 1.66 and a beta of 1.20. Eaton Co. plc has a one year low of $122.50 and a one year high of $175.72. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.97 and a quick ratio of 0.58.

Eaton (NYSE:ETNGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.05. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.22 billion. Eaton had a return on equity of 17.04% and a net margin of 11.70%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 EPS. As a group, research analysts predict that Eaton Co. plc will post 7.55 EPS for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.42%. Eaton’s payout ratio is 56.15%.

Insider Activity

In other news, insider Daniel Roy Hopgood sold 1,500 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $151.70, for a total transaction of $227,550.00. Following the completion of the sale, the insider now directly owns 7,593 shares in the company, valued at approximately $1,151,858.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Daniel Roy Hopgood sold 1,500 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $151.70, for a total transaction of $227,550.00. Following the completion of the sale, the insider now directly owns 7,593 shares in the company, valued at approximately $1,151,858.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Deborah L. Mccoy sold 3,000 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $148.72, for a total value of $446,160.00. Following the sale, the director now owns 12,856 shares of the company’s stock, valued at $1,911,944.32. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ETN shares. Robert W. Baird set a $144.00 target price on Eaton in a research note on Tuesday, August 2nd. UBS Group lowered their price target on Eaton from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. The Goldman Sachs Group lowered their price target on Eaton from $175.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on Eaton from $178.00 to $156.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Finally, Morgan Stanley boosted their price target on Eaton from $170.00 to $176.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $160.15.

Eaton Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.