Glenmede Trust Co. NA Purchases 328 Shares of Eaton Co. plc (NYSE:ETN)

Glenmede Trust Co. NA increased its position in shares of Eaton Co. plc (NYSE:ETN) by 0.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,571 shares of the industrial products company’s stock after acquiring an additional 328 shares during the period. Glenmede Trust Co. NA’s holdings in Eaton were worth $28,693,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Freedom Investment Management Inc. grew its holdings in shares of Eaton by 117.2% during the third quarter. Freedom Investment Management Inc. now owns 2,433 shares of the industrial products company’s stock worth $806,000 after purchasing an additional 1,313 shares during the last quarter. Cynosure Group LLC increased its position in Eaton by 7.8% in the 3rd quarter. Cynosure Group LLC now owns 2,430 shares of the industrial products company’s stock valued at $805,000 after acquiring an additional 176 shares during the period. Hardy Reed LLC bought a new position in shares of Eaton during the third quarter valued at $259,000. Townsquare Capital LLC lifted its holdings in shares of Eaton by 48.1% during the third quarter. Townsquare Capital LLC now owns 5,081 shares of the industrial products company’s stock worth $1,684,000 after purchasing an additional 1,651 shares during the period. Finally, Baldwin Investment Management LLC increased its holdings in Eaton by 5.5% in the third quarter. Baldwin Investment Management LLC now owns 10,287 shares of the industrial products company’s stock valued at $3,410,000 after purchasing an additional 539 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Down 1.4 %

ETN stock opened at $371.97 on Thursday. The stock’s 50 day moving average is $346.61 and its 200-day moving average is $323.89. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $379.99. The firm has a market capitalization of $147.00 billion, a PE ratio of 39.57, a P/E/G ratio of 2.99 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.47 EPS. Sell-side analysts expect that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.01%. Eaton’s dividend payout ratio is presently 40.00%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. UBS Group assumed coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and increased their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average price target of $357.83.

Insider Activity

In other Eaton news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,981 shares of company stock valued at $24,100,317 over the last quarter. Company insiders own 0.33% of the company’s stock.

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.