Alps Advisors Inc. Cuts Stock Holdings in Eaton Co. PLC (NYSE:ETN)

Alps Advisors Inc. trimmed its holdings in shares of Eaton Co. PLC (NYSE:ETN) by 12.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 396,083 shares of the industrial products company’s stock after selling 58,836 shares during the period. Alps Advisors Inc.’s holdings in Eaton were worth $32,934,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ETN. Flippin Bruce & Porter Inc. raised its stake in Eaton by 22.1% in the third quarter. Flippin Bruce & Porter Inc. now owns 149,471 shares of the industrial products company’s stock worth $12,429,000 after buying an additional 27,042 shares in the last quarter. SG Americas Securities LLC raised its stake in Eaton by 2.9% in the third quarter. SG Americas Securities LLC now owns 141,584 shares of the industrial products company’s stock worth $11,773,000 after buying an additional 4,010 shares in the last quarter. First Trust Advisors LP raised its stake in Eaton by 1.3% in the third quarter. First Trust Advisors LP now owns 906,922 shares of the industrial products company’s stock worth $75,411,000 after buying an additional 11,616 shares in the last quarter. Haverford Trust Co. raised its stake in Eaton by 1.3% in the third quarter. Haverford Trust Co. now owns 466,876 shares of the industrial products company’s stock worth $38,821,000 after buying an additional 6,145 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Eaton by 6.1% in the third quarter. Daiwa Securities Group Inc. now owns 23,329 shares of the industrial products company’s stock worth $1,940,000 after buying an additional 1,351 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

ETN has been the subject of a number of research reports. Royal Bank of Canada set a $84.00 price target on shares of Eaton and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Oppenheimer raised shares of Eaton from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a research note on Wednesday, October 16th. Deutsche Bank set a $96.00 price target on shares of Eaton and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Vertical Research downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a research note on Wednesday, October 9th. Finally, Credit Suisse Group increased their price target on shares of Eaton from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Eaton has an average rating of “Hold” and a consensus price target of $90.92.

Shares of NYSE ETN opened at $92.22 on Friday. Eaton Co. PLC has a fifty-two week low of $64.46 and a fifty-two week high of $92.37. The company has a 50 day simple moving average of $83.71 and a two-hundred day simple moving average of $81.29. The company has a market capitalization of $37.59 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.81 and a beta of 1.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.10 and a current ratio of 1.72.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.01. Eaton had a net margin of 11.06% and a return on equity of 15.15%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the firm earned $1.43 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts forecast that Eaton Co. PLC will post 5.73 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Thursday, October 31st. Eaton’s dividend payout ratio is 52.69%.

In other Eaton news, Director Deborah L. Mccoy sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $79.18, for a total transaction of $237,540.00. Following the completion of the transaction, the director now owns 29,936 shares of the company’s stock, valued at $2,370,332.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard H. Fearon sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $90.05, for a total transaction of $3,061,700.00. Following the transaction, the insider now directly owns 200,384 shares of the company’s stock, valued at approximately $18,044,579.20. The disclosure for this sale can be found here. Insiders have sold 55,000 shares of company stock valued at $4,893,860 in the last ninety days. Insiders own 0.70% of the company’s stock.

Eaton Profile

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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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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