Public Employees Retirement System of Ohio Sells 1,267 Shares of Eaton Co. plc (NYSE:ETN)

Public Employees Retirement System of Ohio lowered its position in Eaton Co. plc (NYSE:ETN) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,173 shares of the industrial products company’s stock after selling 1,267 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Eaton were worth $62,368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Strategic Wealth Partners Ltd. boosted its holdings in Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD grew its holdings in shares of 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 purchasing an additional 30 shares during the last quarter. Legacy Capital Group California Inc. increased its position in shares of Eaton by 1.2% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after purchasing an additional 32 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Eaton by 2.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after purchasing an additional 32 shares during the last quarter. Finally, Well Done LLC boosted its position in Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after buying an additional 33 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Price Performance

Shares of ETN opened at $371.22 on Monday. 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 stock has a market cap of $146.71 billion, a P/E ratio of 39.49, a price-to-earnings-growth ratio of 2.81 and a beta of 1.03. The stock’s 50-day moving average price is $352.74 and its two-hundred day moving average price is $325.81. Eaton Co. plc has a 1 year low of $226.79 and a 1 year high of $379.99.

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

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Raymond James cut their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. UBS Group assumed coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Citigroup initiated coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.72.

Insider Activity at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,981 shares of company stock worth $24,100,317. 0.33% of the stock is owned by company insiders.

About Eaton

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.