Hamilton Point Investment Advisors LLC increased its stake in shares of Eaton Co. PLC (NYSE:ETN) by 0.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 41,061 shares of the industrial products company’s stock after buying an additional 350 shares during the quarter. Hamilton Point Investment Advisors LLC’s holdings in Eaton were worth $3,420,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ETN. Financial Gravity Wealth Inc. acquired a new stake in shares of Eaton during the 1st quarter valued at $25,000. Destination Wealth Management boosted its holdings in shares of Eaton by 103.2% during the 1st quarter. Destination Wealth Management now owns 319 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 162 shares in the last quarter. Hexavest Inc. acquired a new stake in shares of Eaton during the 2nd quarter valued at $28,000. Alera Investment Advisors LLC boosted its holdings in shares of Eaton by 82.9% during the 1st quarter. Alera Investment Advisors LLC now owns 384 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 174 shares in the last quarter. Finally, Paragon Capital Management LLC acquired a new stake in shares of Eaton during the 1st quarter valued at $32,000. 76.83% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Dorothy C. Thompson purchased 1,655 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $78.54 per share, with a total value of $129,983.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joao V. Faria sold 4,301 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $80.00, for a total transaction of $344,080.00. Following the sale, the insider now directly owns 58,688 shares in the company, valued at $4,695,040. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Several equities research analysts recently weighed in on ETN shares. Bank of America set a $152.00 price objective on Caterpillar and gave the company a “buy” rating in a report on Thursday, April 4th. Barclays reissued a “hold” rating and set a $23.00 price objective on shares of Cypress Semiconductor in a report on Thursday, June 6th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. Eaton presently has a consensus rating of “Hold” and an average target price of $87.08.

NYSE:ETN traded down $0.20 during trading hours on Monday, hitting $81.37. 9,169 shares of the company were exchanged, compared to its average volume of 2,052,355. The company has a market cap of $34.40 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.59 and a beta of 1.47. The company has a quick ratio of 0.92, a current ratio of 1.47 and a debt-to-equity ratio of 0.42. Eaton Co. PLC has a one year low of $64.46 and a one year high of $89.46. The business’s fifty day moving average is $80.82.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.01. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.38 billion. Eaton had a return on equity of 14.56% and a net margin of 10.06%. Eaton’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $1.10 EPS. On average, research analysts anticipate that Eaton Co. PLC will post 5.88 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Thursday, August 1st. Eaton’s dividend payout ratio is currently 52.69%.

About Eaton

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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