Insigneo Advisory Services LLC Reduces Position in Eaton Co. plc (NYSE:ETN)

Insigneo Advisory Services LLC reduced its stake in Eaton Co. plc (NYSE:ETN) by 8.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,872 shares of the industrial products company’s stock after selling 536 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Eaton were worth $1,841,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Gryphon Financial Partners LLC grew its holdings in shares of Eaton by 81.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock worth $565,000 after buying an additional 1,053 shares in the last quarter. Hsbc Holdings PLC grew its stake in Eaton by 57.0% in the 4th quarter. Hsbc Holdings PLC now owns 402,471 shares of the industrial products company’s stock worth $96,861,000 after acquiring an additional 146,056 shares during the period. Cape Investment Advisory Inc. raised its holdings in Eaton by 42.5% in the 4th quarter. Cape Investment Advisory Inc. now owns 275 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 82 shares during the last quarter. JARISLOWSKY FRASER Ltd acquired a new stake in shares of Eaton during the fourth quarter worth $389,000. Finally, United Services Automobile Association boosted its holdings in shares of Eaton by 11.2% during the fourth quarter. United Services Automobile Association now owns 11,915 shares of the industrial products company’s stock worth $2,869,000 after purchasing an additional 1,203 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated 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 of the company’s stock, valued at $2,858,328. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 in the last three months. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

ETN has been the topic of several recent analyst reports. Evercore ISI reduced their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Jefferies Financial Group increased their price objective on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Citigroup initiated coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price target for the company. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Raymond James dropped their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $337.41.

Eaton Stock Down 0.7 %

Shares of NYSE:ETN opened at $327.39 on Wednesday. The company has a market capitalization of $130.89 billion, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The company has a 50 day moving average of $299.89 and a two-hundred day moving average of $313.12. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. As a group, analysts forecast that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.15%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Eaton Company 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.