World Equity Group Inc. Has $865,000 Stock Holdings in Eaton Co. plc (NYSE:ETN)

World Equity Group Inc. trimmed its position in Eaton Co. plc (NYSE:ETN) by 11.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,610 shares of the industrial products company’s stock after selling 324 shares during the period. World Equity Group Inc.’s holdings in Eaton were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Breakwater Investment Management boosted its holdings in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. acquired a new position in shares of Eaton during the second quarter worth approximately $29,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton in the second quarter valued at approximately $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton in the third quarter worth $35,000. Finally, DT Investment Partners LLC acquired a new position in Eaton during the 3rd quarter valued at $37,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the topic of several research reports. Barclays dropped their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday. Evercore ISI cut their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Raymond James decreased their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group boosted their price target on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $341.00.

Eaton Price Performance

Shares of ETN stock traded down $0.59 during trading hours on Monday, hitting $333.47. 270,755 shares of the company’s stock were exchanged, compared to its average volume of 2,097,931. The stock’s 50-day moving average is $323.09 and its 200-day moving average is $318.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.07. Eaton Co. plc has a 52 week low of $211.99 and a 52 week high of $349.74. The stock has a market cap of $132.75 billion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01.

Eaton (NYSE:ETN) last announced 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. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm posted $2.47 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. As a group, research analysts forecast that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insider Activity at Eaton

In other news, Director Dorothy C. Thompson acquired 2,205 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. 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 over the last 90 days. Insiders own 0.53% of the company’s stock.

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.