Eaton Co. plc (NYSE:ETN) Short Interest Update

Eaton Co. plc (NYSE:ETN) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 4,600,000 shares, an increase of 5.7% from the July 15th total of 4,350,000 shares. Based on an average daily volume of 2,410,000 shares, the short-interest ratio is presently 1.9 days. Currently, 1.2% of the company’s stock are short sold.

Insider Buying and Selling at Eaton

In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Institutional Trading of Eaton

Several institutional investors and hedge funds have recently made changes to their positions in ETN. Tennessee Valley Asset Management Partners bought a new position in Eaton in the 4th quarter worth about $25,000. Avior Wealth Management LLC grew its stake in Eaton by 323.0% in the fourth quarter. Avior Wealth Management LLC now owns 939 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 717 shares in the last quarter. Knights of Columbus Asset Advisors LLC bought a new stake in Eaton during the 4th quarter valued at $4,869,000. Beaumont Financial Advisors LLC lifted its holdings in shares of Eaton by 8.6% in the 4th quarter. Beaumont Financial Advisors LLC now owns 1,254 shares of the industrial products company’s stock worth $302,000 after buying an additional 99 shares during the period. Finally, John G Ullman & Associates Inc. bought a new position in shares of Eaton during the 4th quarter worth $202,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Down 1.9 %

Shares of ETN traded down $5.78 during mid-day trading on Friday, reaching $296.68. 2,768,158 shares of the company’s stock traded hands, compared to its average volume of 2,188,878. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05. The stock’s 50-day moving average is $310.21 and its two-hundred day moving average is $309.05. Eaton has a 12 month low of $191.82 and a 12 month high of $345.19. The stock has a market cap of $118.61 billion, a P/E ratio of 35.03, a P/E/G ratio of 2.47 and a beta of 1.02.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Mizuho restated a “buy” rating and set a $355.00 price target (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Jefferies Financial Group raised their price objective on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Barclays boosted their price objective on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, HSBC boosted their price target on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $326.53.

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.