Eaton Co. plc (NYSE:ETN) Stock Holdings Trimmed by Financial Management Professionals Inc.

Financial Management Professionals Inc. lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 57.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118 shares of the industrial products company’s stock after selling 158 shares during the period. Financial Management Professionals Inc.’s holdings in Eaton were worth $39,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ETN. Brookstone Capital Management raised its stake in Eaton by 15.5% during the 1st quarter. Brookstone Capital Management now owns 1,375 shares of the industrial products company’s stock valued at $430,000 after acquiring an additional 185 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Eaton by 36.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock valued at $453,000 after purchasing an additional 384 shares during the period. LVW Advisors LLC acquired a new position in shares of Eaton during the 1st quarter valued at $428,000. Miracle Mile Advisors LLC increased its position in shares of Eaton by 20.1% during the 1st quarter. Miracle Mile Advisors LLC now owns 4,333 shares of the industrial products company’s stock valued at $1,355,000 after purchasing an additional 726 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of Eaton during the 1st quarter valued at $92,000. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 over the last quarter. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $344.49 on Monday. Eaton Co. plc has a 1-year low of $193.77 and a 1-year high of $349.74. 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 company has a market capitalization of $137.14 billion, a price-to-earnings ratio of 37.90, a P/E/G ratio of 2.62 and a beta of 1.02. The stock’s fifty day simple moving average is $318.89 and its 200-day simple moving average is $317.49.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, sell-side analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Eaton’s dividend payout ratio is currently 41.36%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ETN shares. Wells Fargo & Company lifted their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Citigroup started coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Barclays lifted their price target on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

Eaton Company 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.