Dakota Wealth Management Acquires 10,598 Shares of Eaton Co. PLC (ETN)

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Dakota Wealth Management boosted its position in shares of Eaton Co. PLC (NYSE:ETN) by 330.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,803 shares of the industrial products company’s stock after purchasing an additional 10,598 shares during the period. Dakota Wealth Management’s holdings in Eaton were worth $1,032,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Pegasus Asset Management Inc. lifted its holdings in Eaton by 2.3% during the 2nd quarter. Pegasus Asset Management Inc. now owns 28,030 shares of the industrial products company’s stock valued at $2,095,000 after purchasing an additional 643 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Eaton by 5.4% during the 2nd quarter. Bessemer Group Inc. now owns 12,819 shares of the industrial products company’s stock valued at $958,000 after purchasing an additional 651 shares during the last quarter. Cambria Investment Management L.P. lifted its holdings in Eaton by 2.7% during the 1st quarter. Cambria Investment Management L.P. now owns 25,729 shares of the industrial products company’s stock valued at $2,056,000 after purchasing an additional 668 shares during the last quarter. World Asset Management Inc lifted its holdings in Eaton by 2.5% during the 2nd quarter. World Asset Management Inc now owns 27,989 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 672 shares during the last quarter. Finally, Capital City Trust Co. FL lifted its holdings in Eaton by 4.0% during the 2nd quarter. Capital City Trust Co. FL now owns 17,914 shares of the industrial products company’s stock valued at $1,339,000 after purchasing an additional 693 shares during the last quarter. 80.73% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE ETN opened at $82.03 on Wednesday. Eaton Co. PLC has a 1-year low of $69.82 and a 1-year high of $89.85. The stock has a market capitalization of $35.10 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 1.47 and a beta of 1.42. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 0.40.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.07. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.45 billion. Eaton had a net margin of 14.80% and a return on equity of 13.11%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 earnings per share. equities research analysts anticipate that Eaton Co. PLC will post 5.36 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Friday, August 3rd were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, August 2nd. Eaton’s dividend payout ratio (DPR) is 56.77%.

Several equities analysts recently issued reports on the stock. ValuEngine downgraded shares of Eaton from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Citigroup dropped their target price on shares of Eaton from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, May 2nd. Barclays boosted their target price on shares of Eaton from $71.00 to $77.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 1st. Zacks Investment Research downgraded shares of Eaton from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, JPMorgan Chase & Co. raised shares of Eaton from a “neutral” rating to an “overweight” rating and set a $92.00 target price for the company in a research note on Monday, August 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $87.61.

In related news, insider Uday Yadav sold 9,786 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $80.32, for a total transaction of $786,011.52. Following the completion of the sale, the insider now directly owns 21,559 shares of the company’s stock, valued at $1,731,618.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William J. Vanlandingham II sold 5,722 shares of the business’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $79.39, for a total transaction of $454,269.58. Following the sale, the insider now directly owns 12,674 shares of the company’s stock, valued at $1,006,188.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,683 shares of company stock valued at $2,220,088. 0.50% of the stock is currently owned by insiders.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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