Eaton Co. plc (NYSE:ETN) Shares Sold by LRI Investments LLC

LRI Investments LLC decreased its position in Eaton Co. plc (NYSE:ETN) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,825 shares of the industrial products company’s stock after selling 240 shares during the quarter. LRI Investments LLC’s holdings in Eaton were worth $1,022,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Diversify Advisory Services LLC raised its holdings in shares of Eaton by 14.0% during the second quarter. Diversify Advisory Services LLC now owns 1,356 shares of the industrial products company’s stock worth $432,000 after purchasing an additional 167 shares during the period. RFG Advisory LLC increased its position in shares of Eaton by 8.5% during the 2nd quarter. RFG Advisory LLC now owns 4,594 shares of the industrial products company’s stock valued at $1,440,000 after purchasing an additional 361 shares during the period. Dynamic Advisor Solutions LLC raised its position in Eaton by 2.5% in the second quarter. Dynamic Advisor Solutions LLC now owns 11,650 shares of the industrial products company’s stock worth $3,653,000 after acquiring an additional 288 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Eaton by 10.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 29,865 shares of the industrial products company’s stock worth $9,364,000 after purchasing an additional 2,827 shares during the last quarter. Finally, Andina Capital Management LLC grew its holdings in shares of Eaton by 9.9% in the 2nd quarter. Andina Capital Management LLC now owns 1,567 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,981 shares of company stock worth $24,100,317. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ETN shares. Royal Bank of Canada restated an “outperform” rating and issued a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Barclays boosted their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday. Bank of America increased their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Finally, Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and increased their price objective for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $362.72.

Eaton Stock Up 0.0 %

Eaton stock opened at $371.22 on Monday. The firm has a market cap of $146.71 billion, a price-to-earnings ratio of 39.49, a P/E/G ratio of 2.81 and a beta of 1.03. The firm has a fifty day moving average price of $352.74 and a two-hundred day moving average price of $325.81. Eaton Co. plc has a fifty-two week low of $226.79 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the company earned $2.47 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

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.