Natixis Advisors LLC Sells 95,920 Shares of Eaton Co. plc (NYSE:ETN)

Natixis Advisors LLC trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 15.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 539,683 shares of the industrial products company’s stock after selling 95,920 shares during the quarter. Natixis Advisors LLC owned approximately 0.13% of Eaton worth $169,218,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ETN. LGT Group Foundation bought a new stake in Eaton during the 4th quarter valued at approximately $241,000. Fisher Asset Management LLC boosted its holdings in Eaton by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 186,450 shares of the industrial products company’s stock worth $44,901,000 after acquiring an additional 6,116 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Eaton by 2.3% in the fourth quarter. First Horizon Advisors Inc. now owns 7,045 shares of the industrial products company’s stock worth $1,697,000 after acquiring an additional 156 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Eaton by 3.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 141,223 shares of the industrial products company’s stock worth $34,009,000 after acquiring an additional 4,234 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Eaton by 16.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 9,702 shares of the industrial products company’s stock valued at $2,337,000 after purchasing an additional 1,401 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Trading Up 1.9 %

Shares of NYSE:ETN traded up $5.84 during trading on Friday, hitting $306.93. The company had a trading volume of 2,320,225 shares, compared to its average volume of 2,438,304. The stock has a market cap of $122.71 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 2.35 and a beta of 1.02. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The company has a fifty day simple moving average of $305.11 and a two-hundred day simple moving average of $310.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

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, topping 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 firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. As a group, equities analysts forecast that Eaton Co. plc will post 10.74 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.23%. Eaton’s payout ratio is currently 44.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ETN shares. Royal Bank of Canada reduced their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Jefferies Financial Group upped their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Barclays upped their price target on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Wells Fargo & Company reduced their price target on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Evercore ISI reduced their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.00.

Insiders Place Their Bets

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 in the last ninety days. 0.53% of the stock is owned by company insiders.

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.