Nvwm LLC Trims Position in Eaton Co. plc (NYSE:ETN)

Nvwm LLC trimmed its position in Eaton Co. plc (NYSE:ETN) by 1.8% 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 4,699 shares of the industrial products company’s stock after selling 87 shares during the quarter. Nvwm LLC’s holdings in Eaton were worth $1,557,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ETN. Diversify Advisory Services LLC bought a new stake in Eaton during the first quarter valued at $371,000. Choreo LLC raised its holdings in shares of Eaton by 1.1% in the 1st quarter. Choreo LLC now owns 3,914 shares of the industrial products company’s stock valued at $1,224,000 after acquiring an additional 41 shares in the last quarter. Jennison Associates LLC boosted its position in shares of 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 acquiring an additional 1,219,790 shares during the last quarter. Peregrine Asset Advisers Inc. purchased a new position in shares of Eaton during the first quarter worth about $255,000. Finally, Suncoast Equity Management raised its stake in Eaton by 278.7% in the first quarter. Suncoast Equity Management now owns 68,983 shares of the industrial products company’s stock valued at $21,570,000 after purchasing an additional 50,768 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 1.0 %

Shares of NYSE:ETN traded up $3.42 during midday trading on Friday, reaching $335.00. The company’s stock had a trading volume of 2,369,253 shares, compared to its average volume of 1,542,622. The company has a quick ratio of 1.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $323.09 and a 200-day moving average of $318.31. The firm has a market capitalization of $133.36 billion, a P/E ratio of 35.64, a PEG ratio of 2.53 and a beta of 1.01. Eaton Co. plc has a 12-month low of $211.99 and a 12-month high of $349.74.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the prior year, the company earned $2.47 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. On average, research analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 40.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ETN. Morgan Stanley began coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Jefferies Financial Group lifted their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Raymond James reduced their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a research report on Friday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $341.00.

Insiders Place Their Bets

In related news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by corporate insiders.

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.