Dimensional Fund Advisors LP Cuts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Dimensional Fund Advisors LP decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,384,607 shares of the industrial products company’s stock after selling 55,331 shares during the period. Dimensional Fund Advisors LP owned 0.35% of Eaton worth $434,152,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. LifeSteps Financial Inc. bought a new stake in shares of Eaton in the 1st quarter valued at about $25,000. Breakwater Investment Management boosted its stake in 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 purchasing an additional 78 shares in the last quarter. Atwood & Palmer Inc. boosted its stake in Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares in the last quarter. Proffitt & Goodson Inc. acquired a new stake in Eaton in the 2nd quarter worth approximately $29,000. Finally, LGT Financial Advisors LLC acquired a new stake in Eaton in the 2nd quarter worth approximately $33,000. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Eaton

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

Eaton Price Performance

NYSE:ETN opened at $306.55 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The firm has a market cap of $122.56 billion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The company has a 50 day moving average price of $300.31 and a 200-day moving average price of $311.96. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Equities research analysts forecast that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Monday, August 5th. Eaton’s payout ratio is 44.39%.

Analyst Ratings Changes

A number of analysts recently commented on ETN shares. Barclays lifted their target price on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Raymond James lowered their target price on shares of 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 upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Evercore ISI decreased their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Royal Bank of Canada decreased their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $337.41.

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.