Eaton Co. plc (NYSE:ETN) Shares Sold by AdvisorNet Financial Inc

by · The Cerbat Gem

AdvisorNet Financial Inc cut its stake in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,314 shares of the industrial products company’s stock after selling 612 shares during the quarter. AdvisorNet Financial Inc’s holdings in Eaton were worth $2,095,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after buying an additional 1,629,856 shares during the period. International Assets Investment Management LLC grew its stake in shares of Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after purchasing an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares during the period. Wulff Hansen & CO. lifted its holdings in Eaton by 31,255.0% in the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after purchasing an additional 476,639 shares during the period. Finally, Electron Capital Partners LLC grew its position in Eaton by 8,348.9% in the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock valued at $140,008,000 after buying an additional 441,239 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

Shares of Eaton stock opened at $339.79 on Wednesday. Eaton Co. plc has a 12 month low of $236.04 and a 12 month high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock has a market cap of $134.29 billion, a PE ratio of 36.15, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06. The business has a fifty day simple moving average of $355.38 and a 200-day simple moving average of $329.33.

Eaton (NYSE:ETN – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $2.47 EPS. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.11%. Eaton’s dividend payout ratio is currently 40.00%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Citigroup lowered their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company cut their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and lifted their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $367.61.

Read Our Latest Research Report on ETN

Eaton Profile

(Free Report)

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.

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