Eaton Co. plc (NYSE:ETN) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC trimmed its holdings in Eaton Co. plc (NYSE:ETN) by 42.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,443 shares of the industrial products company’s stock after selling 4,070 shares during the period. Integrated Advisors Network LLC’s holdings in Eaton were worth $1,804,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ETN. Norden Group LLC acquired a new position in Eaton during the 1st quarter worth $2,176,000. IAM Advisory LLC acquired a new position in Eaton in the second quarter worth about $599,000. Envestnet Portfolio Solutions Inc. increased its holdings in Eaton by 19.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after buying an additional 12,689 shares during the last quarter. Interval Partners LP raised its stake in Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after buying an additional 68,693 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Eaton by 302.4% during the 1st quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock worth $7,277,000 after buying an additional 17,490 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ETN. Morgan Stanley started coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Mizuho increased their target price on shares of Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Evercore ISI lowered their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Wells Fargo & Company raised their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $340.06.

Eaton Trading Up 0.0 %

Shares of ETN stock opened at $345.55 on Wednesday. Eaton Co. plc has a 1 year low of $196.12 and a 1 year high of $349.74. The firm has a market capitalization of $137.56 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The stock has a fifty day moving average of $320.85 and a two-hundred day moving average of $317.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. As a group, research analysts expect that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s payout ratio is 41.36%.

Insiders Place Their Bets

In other news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 over the last ninety days. Company insiders own 0.33% of the company’s stock.

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.