Eaton Co. plc (NYSE:ETN) Shares Sold by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. cut its stake in Eaton Co. plc (NYSE:ETN) by 17.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,503 shares of the industrial products company’s stock after selling 4,236 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Eaton were worth $6,796,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Breakwater Investment Management increased its holdings in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. acquired a new stake in shares of Eaton in the 2nd quarter worth about $29,000. LGT Financial Advisors LLC acquired a new stake in shares of Eaton in the 2nd quarter worth about $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton in the 3rd quarter worth about $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton in the 3rd quarter worth about $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

ETN traded up $1.79 during trading on Tuesday, reaching $378.47. 269,873 shares of the company’s stock were exchanged, compared to its average volume of 2,103,849. The company has a market capitalization of $149.57 billion, a P/E ratio of 40.06, a PEG ratio of 2.99 and a beta of 1.01. The business has a 50 day moving average price of $344.15 and a 200 day moving average price of $323.22. Eaton Co. plc has a fifty-two week low of $224.52 and a fifty-two week high of $379.60. 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 (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the business earned $2.47 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. As a group, analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.99%. Eaton’s dividend payout ratio is 40.00%.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This represents a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,705 shares of company stock valued at $24,516,346 over the last ninety days. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ETN. Sanford C. Bernstein began coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and increased their target price for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Wells Fargo & Company increased their target price on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Barclays decreased their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.