Baillie Gifford & Co. Decreases Stock Holdings in Eaton Co. plc (NYSE:ETN)

Baillie Gifford & Co. lowered its position in Eaton Co. plc (NYSE:ETN) by 3.2% during the third quarter, Holdings Channel reports. The institutional investor owned 1,259,420 shares of the industrial products company’s stock after selling 41,017 shares during the quarter. Baillie Gifford & Co.’s holdings in Eaton were worth $417,422,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Breakwater Investment Management increased its position in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton during the 2nd quarter valued at about $29,000. LGT Financial Advisors LLC purchased a new stake in Eaton in the second quarter valued at about $33,000. West Financial Advisors LLC acquired a new stake in Eaton in the third quarter worth about $35,000. Finally, DT Investment Partners LLC purchased a new stake in shares of Eaton during the third quarter worth about $37,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karenann K. Terrell purchased 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The disclosure for this purchase can be found here. Insiders have sold 117,745 shares of company stock worth $39,278,367 in the last ninety days. 0.53% of the stock is owned by insiders.

Eaton Stock Up 1.4 %

Shares of NYSE ETN opened at $371.95 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $329.60 and a 200 day moving average of $320.18. Eaton Co. plc has a 12-month low of $220.24 and a 12-month high of $373.39. The stock has a market cap of $146.99 billion, a PE ratio of 39.57, a P/E/G ratio of 2.94 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its quarterly 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. The firm had revenue of $6.35 billion during 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 earnings per share. As a group, sell-side analysts predict that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Analyst Ratings Changes

A number of research firms recently commented on ETN. Citigroup assumed coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $374.00 price objective on shares of Eaton in a report on Friday, November 1st. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Barclays dropped their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, Evercore ISI reduced their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $343.28.

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.