DekaBank Deutsche Girozentrale Cuts Stake in Eaton Co. plc (NYSE:ETN)

DekaBank Deutsche Girozentrale lessened its stake in Eaton Co. plc (NYSE:ETN) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 655,506 shares of the industrial products company’s stock after selling 48,852 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.16% of Eaton worth $205,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Gryphon Financial Partners LLC grew its stake in shares of Eaton by 81.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock worth $565,000 after acquiring an additional 1,053 shares during the period. Avantax Advisory Services Inc. boosted its position in Eaton by 23.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,879 shares of the industrial products company’s stock worth $3,342,000 after purchasing an additional 2,631 shares during the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of Eaton during the 4th quarter valued at about $407,000. Apexium Financial LP bought a new position in shares of Eaton in the 4th quarter worth approximately $235,000. Finally, Bedel Financial Consulting Inc. boosted its holdings in shares of Eaton by 5.4% in the fourth quarter. Bedel Financial Consulting Inc. now owns 1,464 shares of the industrial products company’s stock worth $353,000 after buying an additional 75 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the subject of a number of recent research reports. Royal Bank of Canada cut their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Barclays boosted their price target on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Evercore ISI reduced their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, Jefferies Financial Group raised their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Four equities research 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, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $335.18.

Eaton Trading Up 2.1 %

Shares of NYSE ETN opened at $303.39 on Friday. 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 business’s 50 day moving average is $300.80 and its two-hundred day moving average is $311.32. The stock has a market capitalization of $120.78 billion, a P/E ratio of 35.82, a PEG ratio of 2.28 and a beta of 1.01.

Eaton (NYSE:ETN) last released its earnings results 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 firm had revenue of $6.35 billion for 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 expect that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.24%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

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.