Eaton Co. plc (NYSE:ETN) Stock Holdings Reduced by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,402 shares of the industrial products company’s stock after selling 3,993 shares during the quarter. Eaton comprises about 1.6% of Vaughan David Investments LLC IL’s holdings, making the stock its 8th biggest holding. Vaughan David Investments LLC IL owned 0.05% of Eaton worth $63,150,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Eaton by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company’s stock worth $8,812,966,000 after buying an additional 259,615 shares during the last quarter. Norges Bank purchased a new position in shares of Eaton during the fourth quarter worth approximately $1,087,983,000. Coatue Management LLC increased its holdings in shares of Eaton by 5.2% in the 4th quarter. Coatue Management LLC now owns 3,986,445 shares of the industrial products company’s stock valued at $960,016,000 after acquiring an additional 195,809 shares during the period. Capital World Investors raised its position in Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after purchasing an additional 2,439,270 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in Eaton by 19.9% during the 4th quarter. TD Asset Management Inc now owns 2,029,795 shares of the industrial products company’s stock worth $488,815,000 after purchasing an additional 337,351 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $288.30 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The firm’s fifty day simple moving average is $301.53 and its 200-day simple moving average is $311.47. The stock has a market cap of $115.26 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Analysts expect that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.30%. Eaton’s payout ratio is 44.39%.

Analyst Ratings Changes

ETN has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Evercore ISI dropped their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Barclays increased 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. Jefferies Financial Group boosted their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Royal Bank of Canada cut their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $335.18.

Insider Buying and Selling at Eaton

In other news, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Eaton news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now directly owns 500 shares in the company, valued at approximately $149,485. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 52,511 shares of company stock valued at $15,809,326. Insiders own 0.53% of the company’s stock.

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.