PDS Planning Inc Reduces Stock Holdings in Eaton Co. plc (NYSE:ETN)

PDS Planning Inc reduced its position in Eaton Co. plc (NYSE:ETN) by 2.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,197 shares of the industrial products company’s stock after selling 138 shares during the quarter. PDS Planning Inc’s holdings in Eaton were worth $2,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. IAM Advisory LLC bought a new position in Eaton during the second quarter worth about $599,000. Envestnet Portfolio Solutions Inc. grew its stake in Eaton by 19.2% in the 1st 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 in the last quarter. Interval Partners LP lifted its position in shares of Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after acquiring an additional 68,693 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Eaton by 302.4% during the 1st quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock valued at $7,277,000 after purchasing an additional 17,490 shares during the period. Finally, Avantax Advisory Services Inc. increased its position in shares of Eaton by 40.6% during the first quarter. Avantax Advisory Services Inc. now owns 19,513 shares of the industrial products company’s stock valued at $6,101,000 after buying an additional 5,634 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eaton

In other Eaton news, Director Karenann K. Terrell purchased 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the purchase, the director now directly owns 500 shares in the company, valued at $149,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Karenann K. Terrell bought 500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at approximately $149,485. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley assumed coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a report on Friday. Evercore ISI reduced their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, Barclays lowered their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $341.00.

Eaton Trading Down 0.4 %

NYSE:ETN traded down $1.27 during mid-day trading on Monday, reaching $333.73. 240,859 shares of the company’s stock traded hands, compared to its average volume of 2,098,200. The company has a 50 day moving average price of $323.09 and a 200-day moving average price of $318.36. The firm has a market capitalization of $132.86 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.53 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.07. Eaton Co. plc has a 12-month low of $211.99 and a 12-month high of $349.74.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the firm posted $2.47 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. Eaton’s dividend payout ratio (DPR) is 40.00%.

Eaton Company 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.