Eaton Co. plc (NYSE:ETN) Shares Sold by Catalina Capital Group LLC

Catalina Capital Group LLC lessened its stake in Eaton Co. plc (NYSE:ETN) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,589 shares of the industrial products company’s stock after selling 175 shares during the quarter. Catalina Capital Group LLC’s holdings in Eaton were worth $858,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Breakwater Investment Management increased its stake in 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. purchased a new position in Eaton in the second quarter valued at approximately $29,000. LGT Financial Advisors LLC acquired a new position in Eaton during the second quarter valued at approximately $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton in the third quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in shares of Eaton in the 2nd quarter valued at $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eaton news, Director Karenann K. Terrell bought 500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karenann K. Terrell purchased 500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. Insiders sold 56,511 shares of company stock valued at $17,150,526 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on ETN shares. Wells Fargo & Company increased their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Mizuho lifted their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Raymond James cut their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Finally, Citigroup initiated coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $343.28.

Eaton Stock Up 2.0 %

Shares of Eaton stock opened at $337.59 on Wednesday. Eaton Co. plc has a twelve month low of $211.99 and a twelve month high of $349.74. The stock has a market capitalization of $133.42 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 2.55 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The business’s 50 day simple moving average is $324.60 and its 200-day simple moving average is $318.76.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the company posted $2.47 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts forecast that Eaton Co. plc will post 10.78 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.11%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

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.