Quantitative Systematic Strategies LLC Has $699,000 Holdings in Eaton Co. plc (NYSE:ETN)

Quantitative Systematic Strategies LLC decreased its position in Eaton Co. plc (NYSE:ETN) by 75.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,714 shares of the industrial products company’s stock after selling 14,846 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Eaton were worth $699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Prospera Financial Services Inc grew its holdings in Eaton by 3.6% during the first quarter. Prospera Financial Services Inc now owns 2,209 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 76 shares during the period. Brighton Jones LLC acquired a new stake in shares of Eaton in the first quarter valued at approximately $261,000. Boston Family Office LLC acquired a new stake in shares of Eaton in the first quarter valued at approximately $215,000. IndexIQ Advisors LLC raised its position in shares of Eaton by 14.0% in the first quarter. IndexIQ Advisors LLC now owns 6,379 shares of the industrial products company’s stock valued at $882,000 after buying an additional 782 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Eaton by 1.5% in the first quarter. Swiss National Bank now owns 1,532,900 shares of the industrial products company’s stock valued at $211,969,000 after buying an additional 22,000 shares in the last quarter. 77.63% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Joao V. Faria sold 2,201 shares of the stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $163.01, for a total value of $358,785.01. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Uday Yadav sold 32,189 shares of the stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $166.43, for a total transaction of $5,357,215.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,919 shares of company stock valued at $6,980,872. 0.53% of the stock is owned by company insiders.

A number of research firms have weighed in on ETN. William Blair reaffirmed a “market perform” rating on shares of Eaton in a research note on Tuesday, August 3rd. Morgan Stanley boosted their price objective on shares of Eaton from $180.00 to $187.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 4th. HSBC cut shares of Eaton from a “buy” rating to a “hold” rating and set a $153.00 price target on the stock. in a research report on Tuesday, September 14th. Barclays upped their price target on shares of Eaton from $148.00 to $165.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 4th. Finally, UBS Group upped their price objective on shares of Eaton from $165.00 to $186.00 and gave the company a “buy” rating in a report on Wednesday, August 11th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $161.06.

Shares of Eaton stock opened at $156.50 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.80 and a current ratio of 1.10. The stock has a market capitalization of $62.38 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. Eaton Co. plc has a 52-week low of $96.24 and a 52-week high of $171.32. The company has a 50-day simple moving average of $161.90 and a two-hundred day simple moving average of $149.88.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, August 3rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.15. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.99 billion. Eaton had a net margin of 9.86% and a return on equity of 15.03%. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 earnings per share. As a group, equities research analysts forecast that Eaton Co. plc will post 6.82 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Friday, August 13th were given a $0.76 dividend. The ex-dividend date was Thursday, August 12th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.94%. Eaton’s payout ratio is currently 71.70%.

About Eaton

Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segment engages in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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