Eaton Co. plc (NYSE:ETN) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,151 shares of the industrial products company’s stock after selling 6,640 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Eaton were worth $22,309,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. LifeSteps Financial Inc. acquired a new position in shares of Eaton in the 1st quarter valued at $25,000. Atwood & Palmer Inc. increased its stake in Eaton by 142.9% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 50 shares during the period. Clear Investment Research LLC purchased a new stake in shares of Eaton in the fourth quarter valued at about $29,000. Proffitt & Goodson Inc. acquired a new stake in shares of Eaton during the second quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Eaton in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, insider Heath B. Monesmith sold 49,040 shares of the business’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 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 $21,451,287.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, 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. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Raymond James assumed coverage on shares of Eaton in a research note on Friday, June 28th. They set an “outperform” rating and a $375.00 price target on the stock. Mizuho reissued a “buy” rating and issued a $355.00 target price (up previously from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Barclays boosted their target price on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. HSBC raised their price objective on shares of Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company lowered 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. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $328.00.

Eaton Trading Down 0.3 %

Shares of NYSE:ETN traded down $0.88 during trading on Tuesday, reaching $296.03. The stock had a trading volume of 1,710,260 shares, compared to its average volume of 2,166,963. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The stock has a market cap of $118.35 billion, a P/E ratio of 34.95, a PEG ratio of 2.47 and a beta of 1.02. The business has a fifty day moving average price of $307.12 and a 200-day moving average price of $310.22. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. As a group, analysts anticipate that Eaton Co. plc will post 10.66 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is 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.