Eaton Co. plc (NYSE:ETN) Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. lessened its holdings in Eaton Co. plc (NYSE:ETN) by 3.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,673 shares of the industrial products company’s stock after selling 103 shares during the period. Legacy Capital Group California Inc.’s holdings in Eaton were worth $886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Breakwater Investment Management boosted its position in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares during the period. Proffitt & Goodson Inc. purchased a new position in Eaton in the 2nd quarter worth approximately $29,000. Redmont Wealth Advisors LLC acquired a new stake in Eaton in the first quarter valued at approximately $33,000. LGT Financial Advisors LLC purchased a new stake in shares of Eaton during the second quarter valued at approximately $33,000. Finally, West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter worth $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

ETN stock opened at $345.17 on Friday. The stock’s fifty day moving average is $317.08 and its two-hundred day moving average is $317.12. The stock has a market capitalization of $138.00 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a 1 year low of $193.77 and a 1 year high of $349.74.

Eaton (NYSE:ETN) last posted its 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 firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, research analysts predict that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Announces Dividend

The firm 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 $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Eaton’s payout ratio is 44.39%.

Insider Activity

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’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 owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the 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 sale, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,511 shares of company stock valued at $15,809,326. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Raymond James cut their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Citigroup initiated coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company increased their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average price target of $340.06.

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.