Certuity LLC Grows Stake in Eaton Co. plc (NYSE:ETN)

Certuity LLC increased its holdings in Eaton Co. plc (NYSE:ETN) by 356.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,927 shares of the industrial products company’s stock after buying an additional 7,752 shares during the period. Certuity LLC’s holdings in Eaton were worth $3,113,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new stake in shares of Eaton during the 1st quarter valued at about $25,000. Atwood & Palmer Inc. lifted its position in Eaton by 142.9% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 50 shares during the last quarter. Clear Investment Research LLC purchased a new position in Eaton in the 4th quarter worth approximately $29,000. Proffitt & Goodson Inc. bought a new position in shares of Eaton in the 2nd quarter worth $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Eaton during the 1st quarter valued at $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 0.3 %

NYSE ETN opened at $284.97 on Friday. The stock has a market cap of $113.93 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The stock has a 50 day simple moving average of $302.48 and a two-hundred day simple moving average of $311.18. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

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

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio is currently 44.39%.

Analyst Ratings Changes

ETN has been the topic of a number of research analyst reports. Morgan Stanley began coverage on Eaton in a research note on Friday. They issued an “overweight” rating and a $370.00 target price on the stock. Raymond James began coverage on Eaton in a report on Friday, June 28th. They set an “outperform” rating and a $375.00 price objective on the stock. Barclays upped their target price on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday. Finally, Wells Fargo & Company decreased their target price on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $335.76.

Insider Buying and Selling

In other news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction on 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 completion of the transaction, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 over the last three months. Corporate insiders own 0.53% of the company’s stock.

About Eaton

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.