MJP Associates Inc. ADV Buys 66 Shares of Eaton Co. plc (NYSE:ETN)

MJP Associates Inc. ADV grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,506 shares of the industrial products company’s stock after acquiring an additional 66 shares during the quarter. MJP Associates Inc. ADV’s holdings in Eaton were worth $472,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ETN. B.O.S.S. Retirement Advisors LLC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $235,000. Sequoia Financial Advisors LLC increased its holdings in Eaton by 55.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 29,500 shares of the industrial products company’s stock worth $7,104,000 after buying an additional 10,572 shares in the last quarter. Executive Wealth Management LLC purchased a new position in Eaton in the 4th quarter worth about $200,000. Harbor Investment Advisory LLC lifted its stake in Eaton by 3,145.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 3,700 shares of the industrial products company’s stock valued at $891,000 after acquiring an additional 3,586 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of Eaton by 59.7% during the 4th quarter. Cerity Partners LLC now owns 67,348 shares of the industrial products company’s stock valued at $16,219,000 after acquiring an additional 25,164 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

ETN traded up $4.16 during trading on Friday, hitting $291.64. 2,190,467 shares of the company traded hands, compared to its average volume of 2,186,878. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a market cap of $116.60 billion, a PE ratio of 34.43, a P/E/G ratio of 2.47 and a beta of 1.02. The stock’s 50-day simple moving average is $312.50 and its two-hundred day simple moving average is $307.33. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.29%. Eaton’s dividend payout ratio (DPR) is 44.39%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ETN shares. Raymond James initiated coverage on shares of Eaton in a research report on Friday, June 28th. They set an “outperform” rating and a $375.00 price objective on the stock. Argus raised their price target on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. HSBC upped their price objective on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Wells Fargo & Company cut their price target on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Mizuho reiterated a “buy” rating and issued a $355.00 price objective (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $326.53.

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.