Nvwm LLC Sells 87 Shares of Eaton Co. plc (NYSE:ETN)

Nvwm LLC cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,699 shares of the industrial products company’s stock after selling 87 shares during the quarter. Nvwm LLC’s holdings in Eaton were worth $1,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETN. Diversify Advisory Services LLC bought a new position in Eaton in the first quarter valued at about $371,000. Choreo LLC increased its position in shares of Eaton by 1.1% during the 1st quarter. Choreo LLC now owns 3,914 shares of the industrial products company’s stock valued at $1,224,000 after purchasing an additional 41 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Eaton by 2,857.4% in the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after buying an additional 1,219,790 shares during the last quarter. Peregrine Asset Advisers Inc. bought a new stake in Eaton during the first quarter valued at approximately $255,000. Finally, Suncoast Equity Management raised its position in Eaton by 278.7% in the first quarter. Suncoast Equity Management now owns 68,983 shares of the industrial products company’s stock worth $21,570,000 after acquiring an additional 50,768 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Shares of Eaton stock traded up $3.42 during trading on Friday, reaching $335.00. 2,369,253 shares of the stock traded hands, compared to its average volume of 1,542,622. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.07. The company has a market capitalization of $133.36 billion, a price-to-earnings ratio of 35.64, a P/E/G ratio of 2.53 and a beta of 1.01. Eaton Co. plc has a 52-week low of $211.99 and a 52-week high of $349.74. The business has a fifty day simple moving average of $323.09 and a two-hundred day simple moving average of $318.31.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.47 EPS. Sell-side analysts expect that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.12%. Eaton’s payout ratio is currently 40.00%.

Insider Transactions at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction 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 transaction, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 in the last three months. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research report on Friday. Wells Fargo & Company boosted 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. Raymond James decreased their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Morgan Stanley initiated coverage on shares of Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $341.00.

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.