Mesirow Financial Investment Management Inc. Has $2.01 Million Stake in Eaton Co. plc (NYSE:ETN)

Mesirow Financial Investment Management Inc. raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,420 shares of the industrial products company’s stock after purchasing an additional 164 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Eaton were worth $2,014,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Gryphon Financial Partners LLC lifted its position in Eaton by 81.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after acquiring an additional 1,053 shares in the last quarter. Great Lakes Advisors LLC raised its stake in shares of Eaton by 24.8% in the fourth quarter. Great Lakes Advisors LLC now owns 2,176 shares of the industrial products company’s stock worth $524,000 after purchasing an additional 432 shares during the last quarter. Financial Advocates Investment Management lifted its holdings in shares of Eaton by 1.8% in the fourth quarter. Financial Advocates Investment Management now owns 2,499 shares of the industrial products company’s stock valued at $602,000 after purchasing an additional 45 shares in the last quarter. Motco grew its holdings in Eaton by 8.5% during the fourth quarter. Motco now owns 1,213 shares of the industrial products company’s stock worth $292,000 after buying an additional 95 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC raised its position in Eaton by 32.7% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 2,047 shares of the industrial products company’s stock valued at $493,000 after buying an additional 505 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In related news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Evercore ISI cut their price objective 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. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company dropped their target price on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Jefferies Financial Group boosted their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Royal Bank of Canada decreased their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $337.41.

Eaton Stock Performance

Shares of ETN stock opened at $306.55 on Tuesday. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The stock has a market capitalization of $122.56 billion, a P/E ratio of 36.19, a PEG ratio of 2.28 and a beta of 1.01. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $300.31 and its 200 day moving average is $311.96.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given 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 of this dividend was Monday, August 5th. Eaton’s dividend 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.