Eaton Co. plc (NYSE:ETN) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its position in Eaton Co. plc (NYSE:ETN) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,399 shares of the industrial products company’s stock after selling 99 shares during the period. Eaton makes up 0.9% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s portfolio, making the stock its 20th biggest position. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Eaton were worth $8,750,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ETN. Breakwater Investment Management increased its holdings in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the period. Atwood & Palmer Inc. increased its stake in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after buying an additional 50 shares during the period. Proffitt & Goodson Inc. acquired a new position in Eaton during the 2nd quarter valued at about $29,000. Redmont Wealth Advisors LLC acquired a new position in Eaton during the 1st quarter valued at about $33,000. Finally, LGT Financial Advisors LLC acquired a new position in Eaton during the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction that occurred on Thursday, August 15th. The shares were 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 $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The shares were 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore ISI lowered their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group raised their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Royal Bank of Canada lowered their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Citigroup initiated coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Finally, Morgan Stanley initiated 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. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.47.

Eaton Stock Performance

Shares of ETN opened at $341.10 on Thursday. Eaton Co. plc has a one year low of $191.82 and a one year high of $347.35. The company has a 50-day moving average of $311.66 and a two-hundred day moving average of $316.19. The stock has a market cap of $136.37 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, equities research analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

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

About Eaton

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.