Global Retirement Partners LLC Has $3.69 Million Position in Eaton Co. plc (NYSE:ETN)

Global Retirement Partners LLC reduced its position in Eaton Co. plc (NYSE:ETN) by 12.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,125 shares of the industrial products company’s stock after selling 1,534 shares during the quarter. Global Retirement Partners LLC’s holdings in Eaton were worth $3,687,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Good Life Advisors LLC grew its holdings in shares of Eaton by 46.0% during the third quarter. Good Life Advisors LLC now owns 2,839 shares of the industrial products company’s stock valued at $941,000 after buying an additional 895 shares during the last quarter. nVerses Capital LLC increased its position in shares of Eaton by 25.0% during the 3rd quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock valued at $994,000 after purchasing an additional 600 shares during the last quarter. Rheos Capital Works Inc. increased its position in Eaton by 233.3% in the third quarter. Rheos Capital Works Inc. now owns 50,000 shares of the industrial products company’s stock worth $16,572,000 after buying an additional 35,000 shares during the last quarter. SPC Financial Inc. raised its stake in Eaton by 17.8% in the 3rd quarter. SPC Financial Inc. now owns 11,769 shares of the industrial products company’s stock valued at $3,901,000 after acquiring an additional 1,779 shares during the period. Finally, B.O.S.S. Retirement Advisors LLC raised its position in shares of Eaton by 18.4% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 1,270 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 197 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ETN. Citigroup began coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Mizuho boosted their target price on Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays increased their price target on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI cut their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus price target of $340.06.

Eaton Stock Performance

ETN stock opened at $348.33 on Friday. Eaton Co. plc has a one year low of $191.82 and a one year high of $349.74. The firm has a 50-day simple moving average of $312.88 and a two-hundred day simple moving average of $316.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The firm has a market cap of $139.26 billion, a price-to-earnings ratio of 41.13, a PEG ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, equities analysts forecast that Eaton Co. plc will post 10.75 EPS for the current fiscal 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 $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Eaton’s payout ratio is currently 44.39%.

Insiders Place Their Bets

In other news, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

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.