Eaton Co. plc (NYSE:ETN) Stake Decreased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 230,678 shares of the industrial products company’s stock after selling 6,650 shares during the period. Rockefeller Capital Management L.P.’s holdings in Eaton were worth $76,448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ETN. Breakwater Investment Management grew its stake in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new stake in shares of Eaton in the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC bought a new position in shares of Eaton in the second quarter valued at approximately $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter valued at approximately $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in Eaton during the second quarter worth approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,981 shares of company stock worth $24,100,317. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the topic of several research analyst reports. Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Raymond James dropped their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Morgan Stanley started coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Finally, Barclays reduced their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $357.83.

Eaton Trading Up 0.9 %

Shares of NYSE ETN opened at $375.43 on Friday. The firm has a market capitalization of $148.37 billion, a PE ratio of 39.94, a PEG ratio of 2.82 and a beta of 1.01. Eaton Co. plc has a one year low of $224.61 and a one year high of $379.99. 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 has a 50-day moving average price of $348.37 and a two-hundred day moving average price of $324.54.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 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 business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the company posted $2.47 EPS. Eaton’s revenue was up 7.9% on a year-over-year basis. As a group, analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is 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.