Eaton Co. plc (NYSE:ETN) Shares Sold by World Equity Group Inc.

World Equity Group Inc. reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 11.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,610 shares of the industrial products company’s stock after selling 324 shares during the period. World Equity Group Inc.’s holdings in Eaton were worth $865,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ETN. Breakwater Investment Management boosted its position in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after buying an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new position in Eaton in the second quarter valued at about $29,000. LGT Financial Advisors LLC acquired a new stake in Eaton during the 2nd quarter valued at approximately $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton in the 3rd quarter valued at approximately $35,000. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton during the 3rd quarter valued at approximately $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on ETN. Barclays reduced their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday. Jefferies Financial Group raised their price objective on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Citigroup initiated coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 price target on shares of Eaton in a report on Friday. Finally, Morgan Stanley started coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $341.00.

Insider Activity

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 over the last 90 days. 0.53% of the stock is owned by company insiders.

Eaton Price Performance

Shares of NYSE:ETN traded down $0.59 during trading hours on Monday, hitting $333.47. 270,755 shares of the company’s stock traded hands, compared to its average volume of 2,097,931. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.07 and a current ratio of 1.53. The company’s fifty day simple moving average is $323.09 and its two-hundred day simple moving average is $318.36. Eaton Co. plc has a 52 week low of $211.99 and a 52 week high of $349.74. The company has a market cap of $132.75 billion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01.

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 analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.47 EPS. As a group, equities analysts anticipate that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

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 1.13%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 40.00%.

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.