Smith Salley & Associates reduced its position in Eaton Co. PLC (NYSE:ETN) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,259 shares of the industrial products company’s stock after selling 1,860 shares during the period. Smith Salley & Associates’ holdings in Eaton were worth $3,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently bought and sold shares of ETN. Sound Shore Management Inc. CT acquired a new position in Eaton during the second quarter worth $122,069,000. Assenagon Asset Management S.A. raised its position in Eaton by 27,710.3% during the second quarter. Assenagon Asset Management S.A. now owns 1,434,178 shares of the industrial products company’s stock worth $107,190,000 after acquiring an additional 1,429,021 shares during the period. American Century Companies Inc. raised its position in Eaton by 57.8% during the second quarter. American Century Companies Inc. now owns 3,531,120 shares of the industrial products company’s stock worth $263,916,000 after acquiring an additional 1,293,143 shares during the period. LSV Asset Management raised its position in Eaton by 6,356.8% during the second quarter. LSV Asset Management now owns 1,239,710 shares of the industrial products company’s stock worth $92,655,000 after acquiring an additional 1,220,510 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Eaton during the third quarter worth $89,715,000. Institutional investors own 77.29% of the company’s stock.
Eaton stock opened at $73.43 on Friday. Eaton Co. PLC has a 52-week low of $67.70 and a 52-week high of $89.85. The firm has a market cap of $32.69 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.37 and a beta of 1.49. The company has a quick ratio of 0.96, a current ratio of 1.49 and a debt-to-equity ratio of 0.40.
Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.43. Eaton had a net margin of 10.06% and a return on equity of 13.48%. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Eaton’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts anticipate that Eaton Co. PLC will post 5.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, November 1st. Eaton’s dividend payout ratio is currently 56.77%.
In related news, insider Richard H. Fearon sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $83.29, for a total value of $2,082,250.00. Following the completion of the sale, the insider now owns 221,459 shares of the company’s stock, valued at $18,445,320.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah L. Mccoy sold 3,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $84.55, for a total transaction of $253,650.00. Following the completion of the sale, the director now directly owns 32,936 shares of the company’s stock, valued at approximately $2,784,738.80. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock valued at $4,617,645 in the last three months. 0.50% of the stock is currently owned by insiders.
ETN has been the subject of a number of research analyst reports. Deutsche Bank upped their price objective on shares of Eaton from $92.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, August 16th. Zacks Investment Research upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Monday, August 6th. Wells Fargo & Co set a $92.00 price objective on shares of Eaton and gave the stock a “buy” rating in a research report on Wednesday, August 1st. UBS Group upgraded shares of Eaton from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $91.00 to $100.00 in a research report on Friday, September 21st. Finally, Citigroup reduced their price objective on shares of Eaton from $92.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $86.12.
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Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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