Toronto Dominion Bank lifted its holdings in Eaton Co. PLC (NYSE:ETN) by 18.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 281,406 shares of the industrial products company’s stock after acquiring an additional 44,087 shares during the period. Toronto Dominion Bank owned approximately 0.06% of Eaton worth $21,028,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of ETN. Silvant Capital Management LLC bought a new position in shares of Eaton in the 1st quarter worth about $105,000. Thompson Davis & CO. Inc. bought a new stake in Eaton in the 1st quarter valued at about $124,000. Institutional & Family Asset Management LLC bought a new stake in Eaton in the 1st quarter valued at about $137,000. Perigon Wealth Management LLC increased its position in Eaton by 67.5% in the 1st quarter. Perigon Wealth Management LLC now owns 1,772 shares of the industrial products company’s stock valued at $142,000 after buying an additional 714 shares in the last quarter. Finally, Spectrum Management Group Inc. bought a new stake in Eaton in the 2nd quarter valued at about $149,000. 79.87% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on ETN. Deutsche Bank boosted their target price on Eaton from $92.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. raised Eaton from a “neutral” rating to an “overweight” rating and set a $92.00 target price for the company in a research report on Monday, August 13th. Zacks Investment Research lowered Eaton from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Wells Fargo & Co set a $92.00 target price on Eaton and gave the company a “buy” rating in a research report on Wednesday, August 1st. Finally, Barclays boosted their target price on Eaton from $71.00 to $77.00 and gave the company an “underweight” rating in a research report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. Eaton currently has a consensus rating of “Buy” and a consensus price target of $87.72.

ETN stock opened at $81.00 on Friday. The stock has a market cap of $34.90 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.47 and a beta of 1.42. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.47 and a quick ratio of 0.96. Eaton Co. PLC has a 52-week low of $69.82 and a 52-week high of $89.85.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.45 billion. Eaton had a return on equity of 13.11% and a net margin of 14.80%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 EPS. analysts forecast that Eaton Co. PLC will post 5.35 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Friday, August 3rd were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, August 2nd. This represents a $2.64 dividend on an annualized basis and a yield of 3.26%. Eaton’s dividend payout ratio (DPR) is currently 56.77%.

In other Eaton news, insider Uday Yadav sold 9,786 shares of Eaton stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $80.32, for a total transaction of $786,011.52. Following the completion of the transaction, the insider now owns 21,559 shares in the company, valued at approximately $1,731,618.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Critelli sold 5,000 shares of Eaton stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $80.86, for a total value of $404,300.00. Following the transaction, the director now owns 65,566 shares of the company’s stock, valued at approximately $5,301,666.76. The disclosure for this sale can be found here. Insiders have sold a total of 27,683 shares of company stock valued at $2,220,088 in the last quarter. Company insiders own 0.50% of the company’s stock.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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