ASB Consultores LLC Has $385,000 Holdings in Eaton Co. plc (NYSE:ETN)

ASB Consultores LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 12.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,161 shares of the industrial products company’s stock after selling 162 shares during the quarter. ASB Consultores LLC’s holdings in Eaton were worth $385,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FSM Wealth Advisors LLC bought a new position in Eaton in the third quarter worth approximately $216,000. Impax Asset Management Group plc acquired a new position in Eaton during the third quarter worth $2,347,000. Hazlett Burt & Watson Inc. increased its position in shares of Eaton by 36.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 451 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 121 shares in the last quarter. Red Cedar Investment Management LLC raised its holdings in shares of Eaton by 14.8% in the 3rd quarter. Red Cedar Investment Management LLC now owns 25,613 shares of the industrial products company’s stock worth $8,489,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Leeward Financial Partners LLC lifted its position in Eaton by 3.9% in the 3rd quarter. Leeward Financial Partners LLC now owns 20,766 shares of the industrial products company’s stock valued at $6,883,000 after acquiring an additional 777 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

ETN has been the topic of several recent analyst reports. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Evercore ISI lowered their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Wells Fargo & Company lifted their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Barclays reduced their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday. They issued an “outperform” rating and a $382.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $343.28.

Insider Transactions at Eaton

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karenann K. Terrell acquired 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The disclosure for this purchase can be found here. Insiders have sold 56,511 shares of company stock worth $17,150,526 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Eaton Stock Down 0.9 %

Shares of Eaton stock opened at $331.13 on Tuesday. The stock has a market capitalization of $130.86 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a 50-day simple moving average of $323.78 and a two-hundred day simple moving average of $318.52. Eaton Co. plc has a 52-week low of $211.99 and a 52-week high of $349.74.

Eaton (NYSE:ETN) last issued its 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 return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business posted $2.47 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. On average, analysts anticipate that Eaton Co. plc will post 10.78 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. Eaton’s dividend payout ratio is currently 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.