Eaton Corporation, PLC (ETN) Position Lowered by Schroder Investment Management Group

Schroder Investment Management Group lowered its position in Eaton Corporation, PLC (NYSE:ETN) by 14.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,789,186 shares of the industrial products company’s stock after selling 473,331 shares during the period. Schroder Investment Management Group owned approximately 0.63% of Eaton worth $212,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Edge Advisors LLC raised its stake in shares of Eaton by 8.1% during the third quarter. Edge Advisors LLC now owns 133,978 shares of the industrial products company’s stock valued at $10,287,000 after acquiring an additional 10,085 shares in the last quarter. Lowe Brockenbrough & Co. Inc. raised its stake in Eaton by 14.7% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 90,697 shares of the industrial products company’s stock worth $6,965,000 after buying an additional 11,655 shares in the last quarter. Rhumbline Advisers raised its stake in Eaton by 0.4% in the third quarter. Rhumbline Advisers now owns 779,539 shares of the industrial products company’s stock worth $59,861,000 after buying an additional 3,338 shares in the last quarter. Jarislowsky Fraser Ltd bought a new position in Eaton in the third quarter worth approximately $252,000. Finally, Smithfield Trust Co. raised its stake in Eaton by 6.8% in the third quarter. Smithfield Trust Co. now owns 13,152 shares of the industrial products company’s stock worth $1,009,000 after buying an additional 837 shares in the last quarter. 76.65% of the stock is owned by institutional investors and hedge funds.

In other Eaton news, insider Curtis J. Hutchins sold 14,360 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $78.36, for a total transaction of $1,125,249.60. Following the sale, the insider now directly owns 26,596 shares in the company, valued at approximately $2,084,062.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Revathi Advaithi sold 23,743 shares of the stock in a transaction that occurred 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 sale, the insider now owns 31,028 shares in the company, valued at $2,431,354.08. The disclosure for this sale can be found here. Insiders have sold a total of 55,314 shares of company stock valued at $4,288,821 in the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

A number of equities analysts recently commented on ETN shares. Citigroup boosted their price objective on shares of Eaton from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Credit Suisse Group reissued an “outperform” rating and issued a $92.00 price objective (up previously from $86.00) on shares of Eaton in a research note on Wednesday, November 1st. ValuEngine raised shares of Eaton from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Buckingham Research began coverage on shares of Eaton in a research note on Tuesday, October 17th. They issued a “neutral” rating and a $82.00 price objective for the company. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $85.00 price target on shares of Eaton in a report on Friday, November 3rd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. Eaton has an average rating of “Hold” and a consensus price target of $82.86.

Shares of Eaton Corporation, PLC (NYSE:ETN) opened at $74.95 on Wednesday. Eaton Corporation, PLC has a one year low of $66.60 and a one year high of $82.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.43. The stock has a market cap of $33,666.25, a PE ratio of 17.06, a P/E/G ratio of 1.97 and a beta of 1.38.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Friday, November 3rd were given a dividend of $0.60 per share. The ex-dividend date was Thursday, November 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.20%. Eaton’s payout ratio is currently 37.68%.

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Eaton 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.

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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