Eaton Co. plc (NYSE:ETN) Shares Sold by Country Club Bank

Country Club Bank cut its holdings in Eaton Co. plc (NYSE:ETN) by 2.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,213 shares of the industrial products company’s stock after selling 638 shares during the quarter. Country Club Bank’s holdings in Eaton were worth $7,296,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in Eaton by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after acquiring an additional 18,077 shares during the last quarter. Capital World Investors lifted its position in Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after purchasing an additional 2,439,270 shares during the period. Janus Henderson Group PLC boosted its holdings in Eaton by 15.5% in the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock valued at $412,108,000 after purchasing an additional 176,571 shares during the last quarter. Jennison Associates LLC grew its position in Eaton by 2,857.4% during the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after purchasing an additional 1,219,790 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

Eaton stock opened at $344.49 on Friday. The business has a 50 day simple moving average of $317.94 and a 200-day simple moving average of $317.32. Eaton Co. plc has a 12 month low of $193.77 and a 12 month high of $349.74. 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 stock has a market capitalization of $137.73 billion, a PE ratio of 40.67, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Equities analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 44.39%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ETN. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Evercore ISI dropped their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Citigroup began coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Jefferies Financial Group lifted their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Raymond James cut 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Insider Activity at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Eaton news, Director Karenann K. Terrell acquired 500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was acquired 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 directly owns 500 shares in the company, valued at approximately $149,485. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

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.