Eaton Co. plc (NYSE:ETN) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. boosted its stake in Eaton Co. plc (NYSE:ETN) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 74,196 shares of the industrial products company’s stock after acquiring an additional 2,311 shares during the quarter. Raymond James Trust N.A.’s holdings in Eaton were worth $23,264,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tennessee Valley Asset Management Partners acquired a new stake in Eaton during the 4th quarter worth $25,000. LifeSteps Financial Inc. acquired a new stake in Eaton during the 1st quarter worth $25,000. Atwood & Palmer Inc. boosted its stake in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Clear Investment Research LLC acquired a new stake in Eaton during the 4th quarter worth $29,000. Finally, Proffitt & Goodson Inc. acquired a new stake in Eaton during the 2nd quarter worth $29,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock traded up $2.31 during trading hours on Friday, hitting $300.00. The stock had a trading volume of 1,950,652 shares, compared to its average volume of 2,173,366. The firm has a market capitalization of $119.94 billion, a PE ratio of 35.42, a PEG ratio of 2.47 and a beta of 1.02. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The stock’s 50 day moving average is $307.69 and its 200 day moving average is $310.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, research analysts forecast that Eaton Co. plc will post 10.66 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Analyst Ratings Changes

Several research analysts have recently commented on ETN shares. Jefferies Financial Group lifted their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Raymond James assumed coverage on Eaton in a research report on Friday, June 28th. They set an “outperform” rating and a $375.00 price objective for the company. Evercore ISI lowered their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Royal Bank of Canada lowered their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Barclays boosted their price objective on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $328.00.

Insider Transactions at Eaton

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

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.