SWS Partners Cuts Stock Holdings in Eaton Co. plc (NYSE:ETN)

SWS Partners decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 21.3% in the 3rd quarter, Holdings Channel reports. The firm owned 9,734 shares of the industrial products company’s stock after selling 2,638 shares during the period. Eaton comprises 1.0% of SWS Partners’ investment portfolio, making the stock its 23rd largest holding. SWS Partners’ holdings in Eaton were worth $3,226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Breakwater Investment Management boosted its stake in 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 in the last quarter. Atwood & Palmer Inc. boosted its stake in Eaton by 142.9% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after buying an additional 50 shares in the last quarter. Proffitt & Goodson Inc. purchased a new stake in Eaton in the second quarter worth approximately $29,000. Redmont Wealth Advisors LLC purchased a new stake in Eaton in the first quarter worth approximately $33,000. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Eaton during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 1.8 %

Shares of NYSE:ETN traded down $6.14 on Tuesday, hitting $339.47. 1,260,645 shares of the company traded hands, compared to its average volume of 2,124,799. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $347.35. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $309.18 and a 200-day simple moving average of $315.84. The company has a market cap of $135.72 billion, a PE ratio of 40.84, a PEG ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating 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 analysts’ expectations of $6.35 billion. As a group, research analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insiders Place Their Bets

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 stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Heath B. Monesmith sold 49,040 shares of the firm’s 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 $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was 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 position. 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. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

ETN has been the subject of a number of analyst reports. Barclays increased their price objective on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada dropped their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Raymond James dropped their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Jefferies Financial Group upped their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.47.

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.