SageView Advisory Group LLC Sells 3,427 Shares of Eaton Co. plc (NYSE:ETN)

SageView Advisory Group LLC cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 59.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,328 shares of the industrial products company’s stock after selling 3,427 shares during the quarter. SageView Advisory Group LLC’s holdings in Eaton were worth $772,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Wealth Partners Ltd. increased its position in shares of Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD grew its stake in Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 30 shares during the period. Legacy Capital Group California Inc. increased its position in shares of Eaton by 1.2% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after purchasing an additional 32 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Eaton by 2.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 32 shares during the period. Finally, Well Done LLC grew its position in Eaton by 1.3% during the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,981 shares of company stock valued at $24,100,317. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Down 1.7 %

ETN opened at $371.05 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a one year low of $226.63 and a one year high of $379.99. The firm has a market capitalization of $146.64 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 2.83 and a beta of 1.03. The business has a 50 day simple moving average of $351.88 and a two-hundred day simple moving average of $325.70.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the company earned $2.47 earnings per share. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts predict that Eaton Co. plc will post 10.8 EPS for the current 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 given a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.01%. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Analysts Set New Price Targets

Several equities analysts recently commented on ETN shares. UBS Group started coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective on the stock. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Bank of America increased their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company raised their price objective on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Citigroup initiated coverage on Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $359.67.

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.