LRI Investments LLC Sells 240 Shares of Eaton Co. plc (NYSE:ETN)

LRI Investments LLC reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,825 shares of the industrial products company’s stock after selling 240 shares during the quarter. LRI Investments LLC’s holdings in Eaton were worth $1,022,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Breakwater Investment Management raised its position in shares of Eaton by 1,560.0% during the second 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 last quarter. Proffitt & Goodson Inc. acquired a new stake in shares of Eaton during the 2nd quarter worth approximately $29,000. Groupama Asset Managment raised its stake in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in Eaton in the second quarter valued at approximately $33,000. Finally, Morse Asset Management Inc acquired a new stake in Eaton during the 3rd quarter worth $33,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,981 shares of company stock valued at $24,100,317. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company raised their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Sanford C. Bernstein started coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Citigroup initiated coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Finally, Morgan Stanley initiated coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $362.72.

Eaton Trading Up 0.0 %

NYSE:ETN opened at $371.22 on Monday. 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 Co. plc has a twelve month low of $226.79 and a twelve month high of $379.99. The company has a market cap of $146.71 billion, a P/E ratio of 39.49, a price-to-earnings-growth ratio of 2.81 and a beta of 1.03. The business has a 50 day moving average price of $352.74 and a two-hundred day moving average price of $325.81.

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

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio is presently 40.00%.

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.