Eaton Co. plc (NYSE:ETN) Position Reduced by Fiduciary Alliance LLC

Fiduciary Alliance LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,449 shares of the industrial products company’s stock after selling 1,308 shares during the period. Eaton makes up about 1.3% of Fiduciary Alliance LLC’s investment portfolio, making the stock its 18th largest position. Fiduciary Alliance LLC’s holdings in Eaton were worth $9,761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ETN. Legal & General Group Plc boosted its position in shares of 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 valued at $1,005,317,000 after purchasing an additional 18,077 shares during the period. Capital World Investors lifted its position in shares of Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after acquiring an additional 2,439,270 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Eaton by 15.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after purchasing an additional 176,571 shares during the period. Jennison Associates LLC raised its stake 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 valued at $394,752,000 after purchasing an additional 1,219,790 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Eaton by 61.4% in the first quarter. Lord Abbett & CO. LLC now owns 790,182 shares of the industrial products company’s stock valued at $247,074,000 after purchasing an additional 300,689 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last three months. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Performance

Eaton stock traded up $3.51 on Monday, reaching $344.90. 247,202 shares of the stock were exchanged, compared to its average volume of 2,126,026. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $307.72 and a two-hundred day moving average price of $315.60. The stock has a market cap of $137.89 billion, a PE ratio of 40.31, a PEG ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.57.

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. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Sell-side analysts anticipate that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is currently 44.39%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup assumed coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Barclays increased their price objective on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI dropped their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $339.47.

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.