F M Investments LLC Cuts Holdings in Eaton Co. plc (NYSE:ETN)

F M Investments LLC reduced its holdings in shares of Eaton Co. plc (NYSE:ETN) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,218 shares of the industrial products company’s stock after selling 1,911 shares during the quarter. F M Investments LLC’s holdings in Eaton were worth $11,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Norden Group LLC purchased a new stake in Eaton in the first quarter worth approximately $2,176,000. J.W. Cole Advisors Inc. grew its position in shares of Eaton by 15.9% during the 1st quarter. J.W. Cole Advisors Inc. now owns 2,018 shares of the industrial products company’s stock valued at $631,000 after acquiring an additional 277 shares during the period. Private Advisor Group LLC grew its holdings in Eaton by 4.4% during the first quarter. Private Advisor Group LLC now owns 31,218 shares of the industrial products company’s stock valued at $9,761,000 after purchasing an additional 1,314 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of Eaton during the 1st quarter valued at about $371,000. Finally, Resonant Capital Advisors LLC grew its stake in shares of Eaton by 5.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 1,759 shares of the industrial products company’s stock valued at $550,000 after acquiring an additional 85 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Up 1.0 %

NYSE ETN traded up $3.42 on Friday, hitting $335.00. 2,369,253 shares of the stock were exchanged, compared to its average volume of 2,106,960. The stock has a fifty day moving average price of $323.09 and a two-hundred day moving average price of $318.29. The firm has a market capitalization of $133.36 billion, a P/E ratio of 36.85, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a 52-week low of $211.99 and a 52-week high of $349.74.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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 company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.47 EPS. Research analysts forecast that Eaton Co. plc will post 10.75 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 issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is 41.36%.

Insider Transactions at Eaton

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ETN has been the topic of several analyst reports. Evercore ISI lowered their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Jefferies Financial Group raised their price target on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Raymond James dropped their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $341.00.

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.