Stratos Wealth Partners LTD. reduced its stake in shares of Eaton Co. PLC (NYSE:ETN) by 21.7% in the third quarter, HoldingsChannel reports. The firm owned 24,026 shares of the industrial products company’s stock after selling 6,640 shares during the period. Stratos Wealth Partners LTD.’s holdings in Eaton were worth $2,084,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Architects Inc increased its holdings in Eaton by 2,675.0% during the 3rd quarter. Financial Architects Inc now owns 1,221 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 1,177 shares in the last quarter. Reilly Financial Advisors LLC increased its holdings in Eaton by 145.3% during the 3rd quarter. Reilly Financial Advisors LLC now owns 1,266 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 750 shares in the last quarter. Zions Bancorporation bought a new stake in Eaton during the 2nd quarter worth approximately $113,000. Fort L.P. purchased a new position in shares of Eaton in the 2nd quarter worth approximately $116,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Eaton in the 2nd quarter worth approximately $123,000. 77.29% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Ken D. Semelsberger sold 11,500 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $86.57, for a total transaction of $995,555.00. Following the transaction, the insider now directly owns 78,883 shares of the company’s stock, valued at $6,828,901.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Deborah L. Mccoy sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $84.55, for a total value of $253,650.00. Following the transaction, the director now directly owns 32,936 shares in the company, valued at $2,784,738.80. The disclosure for this sale can be found here. In the last three months, insiders sold 55,000 shares of company stock worth $4,617,645. 0.50% of the stock is owned by insiders.
NYSE:ETN opened at $75.42 on Thursday. The firm has a market cap of $32.63 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.37 and a beta of 1.49. Eaton Co. PLC has a 1 year low of $67.70 and a 1 year high of $89.85. The company has a current ratio of 1.49, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40.
Eaton (NYSE:ETN) last released its earnings results on Tuesday, October 30th. The industrial products company reported $1.43 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.43. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.49 billion. Eaton had a return on equity of 13.48% and a net margin of 10.06%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 earnings per share. On average, analysts predict that Eaton Co. PLC will post 5.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be paid a $0.66 dividend. The ex-dividend date is Thursday, November 1st. This represents a $2.64 dividend on an annualized basis and a yield of 3.50%. Eaton’s dividend payout ratio is presently 56.77%.
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Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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