BW Gestao de Investimentos Ltda. Invests $8.64 Million in Eaton Co. plc (NYSE:ETN)

BW Gestao de Investimentos Ltda. purchased a new stake in Eaton Co. plc (NYSE:ETN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 27,566 shares of the industrial products company’s stock, valued at approximately $8,643,000.

A number of other hedge funds have also added to or reduced their stakes in ETN. Norges Bank purchased a new stake in Eaton in the 4th quarter valued at 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 worth $998,255,000 after buying an additional 2,439,270 shares during the last quarter. Jennison Associates LLC increased its holdings in Eaton by 2,857.4% during the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after buying an additional 1,219,790 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Eaton by 2,006.8% in 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 acquiring an additional 918,936 shares during the period. Finally, Swedbank AB purchased a new position in shares of Eaton during the 2nd quarter valued at $225,974,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on ETN shares. Royal Bank of Canada dropped their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Barclays raised their price objective on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Evercore ISI lowered their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. 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 report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report 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’s stock. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $328.00.

Insider Buying and Selling

In other news, 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 value of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Michael Yelton sold 3,136 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 in the last 90 days. 0.53% of the stock is owned by company insiders.

Eaton Price Performance

NYSE:ETN traded up $5.84 during midday trading on Monday, hitting $306.93. The company had a trading volume of 2,320,200 shares, compared to its average volume of 2,169,084. The stock’s fifty day moving average price is $305.11 and its 200-day moving average price is $310.91. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $122.71 billion, a PE ratio of 36.24, a P/E/G ratio of 2.35 and a beta of 1.02.

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

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is currently 44.39%.

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.