Eaton Co. plc (NYSE:ETN) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,384,607 shares of the industrial products company’s stock after selling 55,331 shares during the period. Dimensional Fund Advisors LP’s holdings in Eaton were worth $434,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. LifeSteps Financial Inc. purchased a new stake in Eaton during the first quarter worth about $25,000. Breakwater Investment Management increased its stake in shares of Eaton by 1,560.0% during 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. Atwood & Palmer Inc. increased its stake in shares of Eaton by 142.9% during 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 during the period. Clear Investment Research LLC purchased a new position in Eaton in the fourth quarter valued at approximately $29,000. Finally, Proffitt & Goodson Inc. purchased a new position in Eaton in the second quarter valued at approximately $29,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ETN has been the subject of several research analyst reports. Evercore ISI decreased their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Raymond James decreased their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Royal Bank of Canada reduced their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Citigroup started coverage on Eaton in a report on Monday. They issued a “buy” rating and a $348.00 target price for the company. Finally, Jefferies Financial Group raised their price target on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $337.41.

Eaton Stock Up 0.2 %

Shares of NYSE:ETN opened at $306.55 on Tuesday. The firm has a market cap of $122.56 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 2.28 and a beta of 1.01. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. 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 stock’s 50-day moving average price is $300.31 and its two-hundred day moving average price is $311.96.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, research analysts forecast that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared 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. This represents a $3.76 annualized dividend and a yield of 1.23%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insiders Place Their Bets

In other news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction on 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. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 in the last three months. 0.53% of the stock is owned by 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.