Gulf International Bank UK Ltd Sells 1,339 Shares of Eaton Co. plc (NYSE:ETN)

Gulf International Bank UK Ltd decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,253 shares of the industrial products company’s stock after selling 1,339 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Eaton were worth $10,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Wealth Partners Ltd. increased its holdings in shares of Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares during the period. Fairfield Financial Advisors LTD increased its stake in Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 30 shares during the last quarter. Legacy Capital Group California Inc. raised its holdings in shares of Eaton by 1.2% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after acquiring an additional 32 shares in the last quarter. Well Done LLC boosted its position in shares of Eaton by 1.3% during the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after acquiring an additional 33 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of Eaton by 1.7% during the second quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was 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 in the company, valued at approximately $2,858,328. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated 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 directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,511 shares of company stock valued at $17,150,526. Corporate insiders own 0.33% of the company’s stock.

Eaton Trading Down 0.9 %

Shares of ETN opened at $331.13 on Tuesday. The stock has a market capitalization of $130.86 billion, a P/E ratio of 35.23, a PEG ratio of 2.55 and a beta of 1.01. Eaton Co. plc has a twelve month low of $211.99 and a twelve month high of $349.74. 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 firm has a fifty day simple moving average of $323.78 and a two-hundred day simple moving average of $318.52.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $2.47 earnings per share. On average, research analysts anticipate that Eaton Co. plc will post 10.78 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.14%. Eaton’s dividend payout ratio is 40.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ETN shares. Wells Fargo & Company raised their target price 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. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research report on Friday. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Finally, Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday. They issued an “outperform” rating and a $382.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $343.28.

Eaton 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.