Signet Investment Advisory Group Inc. Trims Stock Holdings in Eaton Co. plc (NYSE:ETN)

Signet Investment Advisory Group Inc. trimmed its position in Eaton Co. plc (NYSE:ETN) by 12.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,442 shares of the industrial products company’s stock after selling 763 shares during the period. Signet Investment Advisory Group Inc.’s holdings in Eaton were worth $1,804,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ETN. Capital World Investors boosted its holdings in shares of Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after purchasing an additional 2,439,270 shares during the last quarter. Jennison Associates LLC boosted its stake in Eaton by 2,857.4% in the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after buying an additional 1,219,790 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares during the period. Swedbank AB acquired a new position in shares of Eaton during the 2nd quarter valued at about $225,974,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Eaton by 1,604.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after acquiring an additional 634,059 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eaton news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’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 value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 over the last three months. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ETN shares. Royal Bank of Canada dropped their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company lifted their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Morgan Stanley started coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Mizuho boosted their target price on Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Raymond James cut their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $340.06.

Eaton Trading Down 0.2 %

Shares of ETN opened at $344.49 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a one year low of $193.77 and a one year high of $349.74. The stock has a 50-day moving average price of $317.94 and a 200 day moving average price of $317.32. The company has a market capitalization of $137.73 billion, a P/E ratio of 40.67, a P/E/G ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Sell-side analysts forecast that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Eaton’s dividend payout ratio (DPR) is 44.39%.

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.