Eaton Co. plc (NYSE:ETN) Shares Sold by Interchange Capital Partners LLC

Interchange Capital Partners LLC reduced its holdings in Eaton Co. plc (NYSE:ETN) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 822 shares of the industrial products company’s stock after selling 31 shares during the quarter. Interchange Capital Partners LLC’s holdings in Eaton were worth $273,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ETN. Capital World Investors lifted its holdings 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 buying an additional 2,439,270 shares during the period. Jennison Associates LLC lifted its holdings in shares of Eaton by 2,857.4% in 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 buying an additional 1,219,790 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares during the period. Swedbank AB acquired a new stake in shares of Eaton in the 2nd quarter valued at approximately $225,974,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Eaton by 1,604.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after buying an additional 634,059 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Karenann K. Terrell acquired 500 shares of Eaton stock in a transaction on Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares in the company, valued at $149,485. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Karenann K. Terrell acquired 500 shares of Eaton stock in a transaction on Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares in the company, valued at $149,485. The purchase was disclosed in a document filed 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 on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, 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 worth $15,809,326 over the last quarter. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ETN has been the subject of several research analyst reports. Jefferies Financial Group raised their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Wells Fargo & Company raised their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Mizuho raised their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday. Evercore ISI dropped their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Citigroup initiated coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $341.00.

Eaton Price Performance

ETN stock opened at $335.00 on Friday. Eaton Co. plc has a 52-week low of $211.99 and a 52-week high of $349.74. The stock’s fifty day simple moving average is $323.09 and its 200-day simple moving average is $318.29. 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 market capitalization of $133.36 billion, a price-to-earnings ratio of 36.85, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter last year, the firm earned $2.47 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts expect that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Monday, November 4th. Eaton’s payout ratio is currently 41.36%.

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.