Eaton Co. plc (NYSE:ETN) Stock Position Decreased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its holdings in Eaton Co. plc (NYSE:ETN) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 137,055 shares of the industrial products company’s stock after selling 3,302 shares during the period. Commonwealth Equity Services LLC’s holdings in Eaton were worth $27,562,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ETN. Marquette Asset Management LLC bought a new stake in Eaton in the second quarter valued at $28,000. Glass Jacobson Investment Advisors llc acquired a new position in Eaton during the 2nd quarter valued at about $29,000. Coppell Advisory Solutions Corp. bought a new position in Eaton in the 4th quarter worth about $30,000. Tucker Asset Management LLC purchased a new stake in Eaton in the 1st quarter worth about $37,000. Finally, NewSquare Capital LLC purchased a new stake in shares of Eaton in the second quarter worth approximately $39,000. 81.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Eaton news, insider Taras G. Jr. Szmagala sold 1,869 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $226.68, for a total value of $423,664.92. Following the completion of the sale, the insider now owns 7,431 shares in the company, valued at approximately $1,684,459.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eaton news, insider Thomas B. Okray sold 4,950 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $231.09, for a total value of $1,143,895.50. Following the transaction, the insider now directly owns 7,367 shares of the company’s stock, valued at $1,702,440.03. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 1,869 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $226.68, for a total transaction of $423,664.92. Following the sale, the insider now owns 7,431 shares of the company’s stock, valued at approximately $1,684,459.08. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Eaton Stock Up 0.4 %

Shares of NYSE:ETN opened at $227.80 on Monday. The company has a market capitalization of $90.96 billion, a PE ratio of 30.50, a P/E/G ratio of 2.18 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.96 and a current ratio of 1.45. The company’s fifty day moving average is $213.10 and its 200-day moving average is $204.76. Eaton Co. plc has a 52 week low of $150.86 and a 52 week high of $240.44.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.13. Eaton had a net margin of 13.24% and a return on equity of 19.49%. The firm had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.89 billion. During the same period in the prior year, the firm earned $2.02 earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts predict that Eaton Co. plc will post 9.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, November 3rd. Eaton’s payout ratio is presently 46.05%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ETN shares. Wells Fargo & Company reduced their price objective on Eaton from $228.00 to $210.00 in a research report on Monday, October 9th. StockNews.com assumed coverage on shares of Eaton in a research report on Thursday, October 5th. They set a “buy” rating on the stock. HSBC increased their price target on shares of Eaton from $161.00 to $210.00 and gave the stock a “hold” rating in a research note on Thursday, August 31st. Morgan Stanley raised their target price on Eaton from $235.00 to $238.00 and gave the company an “overweight” rating in a report on Monday, September 25th. Finally, Barclays increased their price objective on Eaton from $185.00 to $187.00 and gave the company an “underweight” rating in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $219.23.

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.