CNA Financial Corp Sells 17,997 Shares of Eaton Corporation, PLC (ETN)

CNA Financial Corp cut its stake in Eaton Corporation, PLC (NYSE:ETN) by 33.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,994 shares of the industrial products company’s stock after selling 17,997 shares during the period. CNA Financial Corp’s holdings in Eaton Corporation, PLC were worth $2,764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETN. Bragg Financial Advisors Inc lifted its holdings in Eaton Corporation, PLC by 17.2% during the 1st quarter. Bragg Financial Advisors Inc now owns 43,175 shares of the industrial products company’s stock worth $3,201,000 after buying an additional 6,325 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Eaton Corporation, PLC by 610.1% in the 1st quarter. Point72 Asset Management L.P. now owns 639,100 shares of the industrial products company’s stock valued at $47,389,000 after purchasing an additional 549,100 shares during the last quarter. First City Capital Management Inc. lifted its holdings in shares of Eaton Corporation, PLC by 0.6% in the 1st quarter. First City Capital Management Inc. now owns 17,365 shares of the industrial products company’s stock valued at $1,288,000 after purchasing an additional 100 shares during the last quarter. Financial Advisors Network Inc. lifted its holdings in shares of Eaton Corporation, PLC by 4.6% in the 1st quarter. Financial Advisors Network Inc. now owns 10,038 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 445 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Eaton Corporation, PLC by 4.7% in the 1st quarter. Bank of Nova Scotia now owns 10,715 shares of the industrial products company’s stock valued at $795,000 after purchasing an additional 483 shares during the last quarter. 77.01% of the stock is owned by institutional investors.

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In other Eaton Corporation, PLC news, insider Revathi Advaithi sold 23,743 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $78.36, for a total transaction of $1,860,501.48. Following the transaction, the insider now owns 31,028 shares of the company’s stock, valued at approximately $2,431,354.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Deborah L. Mccoy sold 6,450 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $73.17, for a total value of $471,946.50. Following the transaction, the director now directly owns 46,386 shares in the company, valued at approximately $3,394,063.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,643 shares of company stock worth $2,835,806. Corporate insiders own 0.80% of the company’s stock.

Eaton Corporation, PLC (NYSE:ETN) traded down $1.06 during mid-day trading on Wednesday, reaching $75.83. The company had a trading volume of 1,206,675 shares, compared to its average volume of 2,329,282. Eaton Corporation, PLC has a 12-month low of $63.94 and a 12-month high of $82.34. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $33,880.00, a price-to-earnings ratio of 17.40, a P/E/G ratio of 1.92 and a beta of 1.39.

Eaton Corporation, PLC (NYSE:ETN) last posted its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.25. Eaton Corporation, PLC had a return on equity of 12.89% and a net margin of 14.21%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same quarter in the prior year, the company earned $1.16 EPS. Eaton Corporation, PLC’s revenue was up 6.4% on a year-over-year basis. analysts anticipate that Eaton Corporation, PLC will post 4.6 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, November 2nd. Eaton Corporation, PLC’s dividend payout ratio is presently 55.05%.

Several analysts have recently weighed in on the company. Stifel Nicolaus reissued a “hold” rating and issued a $85.00 target price on shares of Eaton Corporation, PLC in a report on Friday, November 3rd. Citigroup Inc. boosted their target price on Eaton Corporation, PLC from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Jefferies Group LLC boosted their target price on Eaton Corporation, PLC from $70.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday, November 1st. Credit Suisse Group restated an “outperform” rating and issued a $92.00 price target (up previously from $86.00) on shares of Eaton Corporation, PLC in a research report on Wednesday, November 1st. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Eaton Corporation, PLC in a research report on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $82.86.

Eaton Corporation, PLC Company Profile

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

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Institutional Ownership by Quarter for Eaton Corporation, PLC (NYSE:ETN)

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