Qsemble Capital Management LP Purchases New Holdings in Eaton Co. plc (NYSE:ETN)

Qsemble Capital Management LP purchased a new position in shares of Eaton Co. plc (NYSE:ETN) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 17,688 shares of the industrial products company’s stock, valued at approximately $5,546,000. Eaton comprises about 1.1% of Qsemble Capital Management LP’s investment portfolio, making the stock its 2nd biggest position.

Several other institutional investors have also recently made changes to their positions in ETN. LifeSteps Financial Inc. acquired a new position in Eaton during the first quarter worth approximately $25,000. Atwood & Palmer Inc. boosted its stake in shares of 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 acquiring an additional 50 shares during the period. Clear Investment Research LLC acquired a new position in shares of Eaton during the 4th quarter worth approximately $29,000. Proffitt & Goodson Inc. bought a new stake in Eaton in the 2nd quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Eaton during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE:ETN opened at $297.00 on Thursday. The stock has a market capitalization of $118.74 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The company’s 50 day simple moving average is $301.10 and its 200 day simple moving average is $311.37.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating 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 return on equity of 21.45% and a net margin of 15.12%. As a group, research analysts predict that Eaton Co. plc will post 10.74 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders 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 dividend yield of 1.27%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insiders Place Their Bets

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,511 shares of company stock worth $15,809,326. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ETN shares. Jefferies Financial Group increased their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Barclays raised their price objective on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Royal Bank of Canada decreased their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company decreased their price objective on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $335.18.

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.