Jamison Private Wealth Management Inc. Invests $73,000 in Eaton Co. plc (NYSE:ETN)

Jamison Private Wealth Management Inc. bought a new position in shares of Eaton Co. plc (NYSE:ETN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 232 shares of the industrial products company’s stock, valued at approximately $73,000.

A number of other hedge funds have also modified their holdings of ETN. Clarius Group LLC increased its holdings in shares of Eaton by 17.0% in the 2nd quarter. Clarius Group LLC now owns 3,105 shares of the industrial products company’s stock worth $974,000 after buying an additional 451 shares during the last quarter. Bourgeon Capital Management LLC lifted its stake in shares of Eaton by 0.3% in the 2nd quarter. Bourgeon Capital Management LLC now owns 44,186 shares of the industrial products company’s stock valued at $13,855,000 after purchasing an additional 121 shares during the last quarter. Salem Investment Counselors Inc. increased its position in shares of Eaton by 5.4% during the 2nd quarter. Salem Investment Counselors Inc. now owns 8,380 shares of the industrial products company’s stock valued at $2,628,000 after purchasing an additional 430 shares during the last quarter. Walden Wealth Partners LLC raised its holdings in Eaton by 40.0% during the 2nd quarter. Walden Wealth Partners LLC now owns 2,100 shares of the industrial products company’s stock valued at $658,000 after buying an additional 600 shares during the period. Finally, Fortitude Family Office LLC lifted its position in Eaton by 113.5% in the second quarter. Fortitude Family Office LLC now owns 410 shares of the industrial products company’s stock worth $129,000 after buying an additional 218 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Argus lifted their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Mizuho reaffirmed a “buy” rating and set a $355.00 price objective (up previously from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. HSBC boosted their target price on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Jefferies Financial Group lifted their price objective on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Raymond James began coverage on Eaton in a research note on Friday, June 28th. They set an “outperform” rating and a $375.00 target price on the stock. One 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 data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $326.53.

Eaton Price Performance

Shares of NYSE:ETN traded up $0.22 during midday trading on Friday, hitting $287.70. The company had a trading volume of 428,151 shares, compared to its average volume of 2,176,132. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The stock has a market cap of $115.02 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05. The business’s 50-day simple moving average is $313.33 and its 200-day simple moving average is $306.10.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.31%. Eaton’s payout ratio is presently 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.