Eaton Co. plc (NYSE:ETN) Shares Sold by XML Financial LLC

XML Financial LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,097 shares of the industrial products company’s stock after selling 64 shares during the period. XML Financial LLC’s holdings in Eaton were worth $344,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Congress Wealth Management LLC DE grew its stake in shares of Eaton by 8.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock worth $18,479,000 after purchasing an additional 5,725 shares in the last quarter. Norden Group LLC acquired a new position in Eaton in the first quarter valued at $2,176,000. Weiss Asset Management LP acquired a new position in Eaton in the fourth quarter valued at $1,001,000. Prospector Partners LLC boosted its stake in Eaton by 0.6% in the fourth quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock valued at $17,172,000 after acquiring an additional 415 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in Eaton by 66.0% in the fourth quarter. Spire Wealth Management now owns 14,914 shares of the industrial products company’s stock valued at $3,648,000 after acquiring an additional 5,932 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group increased their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Argus increased their target price on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Evercore ISI decreased their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Barclays increased their target price on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. One 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. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $328.00.

Insider Buying and Selling

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on 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 owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on 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 owns 71,262 shares in the company, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Eaton Trading Up 1.2 %

NYSE ETN traded up $3.49 during mid-day trading on Wednesday, reaching $299.73. 1,400,562 shares of the stock were exchanged, compared to its average volume of 2,175,605. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The business’s fifty day simple moving average is $308.69 and its 200 day simple moving average is $309.39. The stock has a market capitalization of $119.83 billion, a PE ratio of 35.39, a PEG ratio of 2.47 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.56.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.25%. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Eaton 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.