PFG Advisors Sells 483 Shares of Eaton Co. plc (NYSE:ETN)

PFG Advisors lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,588 shares of the industrial products company’s stock after selling 483 shares during the quarter. PFG Advisors’ holdings in Eaton were worth $2,515,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Nomura Holdings Inc. lifted its stake in shares of Eaton by 1,656.0% in the fourth quarter. Nomura Holdings Inc. now owns 12,448 shares of the industrial products company’s stock worth $2,998,000 after buying an additional 13,248 shares during the last quarter. Kapitalo Investimentos Ltda raised its holdings in Eaton by 220.8% in the 4th quarter. Kapitalo Investimentos Ltda now owns 340 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 234 shares during the period. CWM LLC lifted its position in Eaton by 16.4% during the 1st quarter. CWM LLC now owns 14,583 shares of the industrial products company’s stock worth $4,560,000 after acquiring an additional 2,055 shares during the last quarter. Fulton Bank N.A. boosted its holdings in Eaton by 15.0% during the first quarter. Fulton Bank N.A. now owns 6,656 shares of the industrial products company’s stock valued at $2,081,000 after acquiring an additional 867 shares during the period. Finally, Wedmont Private Capital grew its position in shares of Eaton by 1.9% in the first quarter. Wedmont Private Capital now owns 4,332 shares of the industrial products company’s stock valued at $1,360,000 after purchasing an additional 81 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

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 transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of Eaton 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 completion of the transaction, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The stock was 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 in the company, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,511 shares of company stock valued at $15,809,326. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Up 0.9 %

ETN stock opened at $341.10 on Thursday. 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 firm has a market cap of $136.37 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $347.35. The business’s 50 day moving average is $311.66 and its 200-day moving average is $316.19.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.35 billion. Equities analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.10%. Eaton’s dividend payout ratio is 44.39%.

Analyst Ratings Changes

ETN has been the subject of several recent analyst reports. Raymond James decreased their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Royal Bank of Canada reduced their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. 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 objective on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company raised their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $339.47.

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.