Davis R M Inc. Sells 3,810 Shares of Eaton Co. plc (NYSE:ETN)

Davis R M Inc. reduced its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 199,399 shares of the industrial products company’s stock after selling 3,810 shares during the period. Eaton accounts for approximately 1.3% of Davis R M Inc.’s investment portfolio, making the stock its 25th biggest holding. Davis R M Inc. owned approximately 0.05% of Eaton worth $66,089,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ETN. Price T Rowe Associates Inc. MD boosted its holdings in shares of Eaton by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 576,657 shares of the industrial products company’s stock worth $180,310,000 after buying an additional 8,153 shares in the last quarter. Ascent Group LLC bought a new position in shares of Eaton during the 1st quarter worth about $231,000. Waverly Advisors LLC grew its stake in shares of Eaton by 7.1% in the 1st quarter. Waverly Advisors LLC now owns 7,323 shares of the industrial products company’s stock valued at $2,290,000 after buying an additional 483 shares during the period. Bayesian Capital Management LP acquired a new position in Eaton during the 1st quarter worth approximately $600,000. Finally, Janus Henderson Group PLC raised its stake in Eaton by 15.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after buying an additional 176,571 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This trade represents a 44.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,705 shares of company stock valued at $24,516,346. Company insiders own 0.33% of the company’s stock.

Eaton Stock Performance

NYSE ETN opened at $377.41 on Monday. The company has a market capitalization of $149.15 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 2.99 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. Eaton Co. plc has a 52-week low of $224.52 and a 52-week high of $378.00. The company has a 50-day simple moving average of $342.75 and a 200 day simple moving average of $322.91.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share 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 net margin of 15.32% and a return on equity of 21.97%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $2.47 earnings per share. On average, research analysts predict that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.00%. Eaton’s dividend payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ETN. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target for the company. Raymond James lowered their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

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.