Walden Wealth Partners LLC Has $658,000 Holdings in Eaton Co. plc (NYSE:ETN)

Walden Wealth Partners LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 40.0% during the second quarter, Holdings Channel.com reports. The firm owned 2,100 shares of the industrial products company’s stock after buying an additional 600 shares during the period. Walden Wealth Partners LLC’s holdings in Eaton were worth $658,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Eaton in the fourth quarter valued at approximately $1,087,983,000. Capital World Investors increased its holdings in Eaton by 323.8% in the first 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. Jennison Associates LLC boosted its holdings in Eaton by 2,857.4% during the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after buying an additional 1,219,790 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of Eaton by 2,006.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after buying an additional 918,936 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in shares of Eaton by 207.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock valued at $233,698,000 after acquiring an additional 654,855 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Stock Up 3.5 %

NYSE:ETN traded up $9.64 during trading hours on Thursday, reaching $287.32. 3,887,972 shares of the stock were exchanged, compared to its average volume of 2,185,178. The stock has a market cap of $114.87 billion, a PE ratio of 33.92, 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 firm has a 50 day moving average of $313.33 and a 200 day moving average of $306.10. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.31%. The ex-dividend date is Monday, August 5th. Eaton’s payout ratio is 44.39%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ETN shares. Mizuho reiterated a “buy” rating and issued a $355.00 target price (up from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Wells Fargo & Company lowered their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. HSBC lifted their target price on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Jefferies Financial Group increased 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. Finally, Royal Bank of Canada cut their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. One investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.