Keudell Morrison Wealth Management Sells 100 Shares of Eaton Co. plc (NYSE:ETN)

Keudell Morrison Wealth Management lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 12.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 675 shares of the industrial products company’s stock after selling 100 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Eaton were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Eaton during the fourth quarter worth about $1,087,983,000. Capital World Investors boosted its holdings in shares of Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Eaton by 2,857.4% in the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after buying an additional 1,219,790 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in Eaton by 2,006.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after purchasing an additional 918,936 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in Eaton by 207.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock valued at $233,698,000 after acquiring an additional 654,855 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

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 directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Eaton Trading Up 1.3 %

Shares of NYSE ETN traded up $3.83 during trading hours on Thursday, hitting $302.13. 1,884,746 shares of the company traded hands, compared to its average volume of 2,182,596. The stock has a market capitalization of $120.79 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02. The company’s 50 day moving average price is $310.79 and its 200 day moving average price is $307.91. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Barclays raised their target price on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. HSBC increased their price target on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $326.53.

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.