Mercer Global Advisors Inc. ADV Boosts Stake in Eaton Co. plc (NYSE:ETN)

Mercer Global Advisors Inc. ADV raised its holdings in Eaton Co. plc (NYSE:ETN) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,435 shares of the industrial products company’s stock after buying an additional 1,836 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Eaton were worth $52,813,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. purchased a new position in Eaton in the 1st quarter valued at approximately $25,000. Breakwater Investment Management lifted its position in shares of Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the last quarter. Atwood & Palmer Inc. lifted its position in shares of Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Clear Investment Research LLC purchased a new stake in shares of Eaton during the 4th quarter worth $29,000. Finally, Proffitt & Goodson Inc. purchased a new stake in shares of Eaton during the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

ETN has been the subject of several recent analyst reports. Barclays lifted their price objective on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. 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 research report on Friday, August 2nd. Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Wells Fargo & Company cut their price target on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price target 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. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $337.41.

Insider Activity

In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton 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 sale, the insider now 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 can be accessed through this hyperlink. In related news, Director Karenann K. Terrell acquired 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the acquisition, the director now owns 500 shares in the company, valued at $149,485. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last quarter. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Up 1.7 %

NYSE ETN opened at $311.70 on Wednesday. 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 market cap of $124.62 billion, a PE ratio of 36.80, a P/E/G ratio of 2.28 and a beta of 1.01. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The firm’s fifty day moving average is $300.17 and its two-hundred day moving average is $312.08.

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

Eaton Announces Dividend

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

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.