Eaton Co. plc (NYSE:ETN) Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC cut its position in shares of Eaton Co. plc (NYSE:ETN) by 2.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,803 shares of the industrial products company’s stock after selling 100 shares during the quarter. Dearborn Partners LLC’s holdings in Eaton were worth $1,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Eaton by 16.5% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 27,561 shares of the industrial products company’s stock worth $8,618,000 after purchasing an additional 3,913 shares during the period. Nwam LLC grew its holdings in Eaton by 1.5% during the 1st quarter. Nwam LLC now owns 3,408 shares of the industrial products company’s stock worth $1,088,000 after acquiring an additional 51 shares during the period. TCTC Holdings LLC lifted its stake in shares of Eaton by 6.0% in the 1st quarter. TCTC Holdings LLC now owns 1,010 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 57 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new position in Eaton during the first quarter worth about $1,758,000. Finally, First Foundation Advisors increased its stake in Eaton by 19.7% in the first quarter. First Foundation Advisors now owns 1,397 shares of the industrial products company’s stock valued at $437,000 after purchasing an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 2.1 %

ETN opened at $361.85 on Friday. The company has a market capitalization of $143.00 billion, a P/E ratio of 38.49, a PEG ratio of 2.96 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 52 week low of $224.52 and a 52 week high of $373.49. The stock’s fifty day moving average is $332.81 and its two-hundred day moving average is $320.84.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.47 EPS. Analysts forecast that Eaton Co. plc will post 10.79 earnings per share 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 given a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. Eaton’s dividend payout ratio is currently 40.00%.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,705 shares of company stock valued at $24,516,346. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on ETN. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Citigroup began coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Raymond James cut their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Wells Fargo & Company raised their price objective on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Bank of America lifted their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

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.