Mutual of America Capital Management LLC Has $15.82 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Mutual of America Capital Management LLC lessened its stake in Eaton Co. plc (NYSE:ETN) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,438 shares of the industrial products company’s stock after selling 1,931 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Eaton were worth $15,815,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC increased its stake in shares of Eaton by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock worth $565,000 after purchasing an additional 1,053 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of Eaton by 24.8% during the 4th quarter. Great Lakes Advisors LLC now owns 2,176 shares of the industrial products company’s stock worth $524,000 after purchasing an additional 432 shares during the last quarter. Gladstone Institutional Advisory LLC increased its stake in shares of Eaton by 32.7% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 2,047 shares of the industrial products company’s stock worth $493,000 after purchasing an additional 505 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Eaton by 10.1% during the 4th quarter. Coldstream Capital Management Inc. now owns 7,758 shares of the industrial products company’s stock worth $1,868,000 after purchasing an additional 710 shares during the last quarter. Finally, Sachetta LLC acquired a new position in shares of Eaton during the 4th quarter worth $66,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ETN shares. Citigroup assumed coverage on shares of Eaton in a research note on Monday. They set a “buy” rating and a $348.00 price target on the stock. Evercore ISI decreased their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Jefferies Financial Group upped their price objective on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company decreased their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, 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 report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $337.41.

Eaton Trading Up 1.7 %

Shares of ETN stock opened at $311.70 on Wednesday. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. The stock has a market cap of $124.62 billion, a price-to-earnings ratio of 36.80, a P/E/G ratio of 2.28 and a beta of 1.01. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The firm has a fifty day moving average of $300.17 and a 200-day moving average of $312.08.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. On average, equities research analysts forecast that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is presently 44.39%.

Insiders Place Their Bets

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the business’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 completion of the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton 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 completion of the sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,511 shares of company stock valued at $15,809,326. Insiders own 0.53% of the company’s stock.

About Eaton

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.