LMR Partners LLP Sells 4,062 Shares of Eaton Co. plc (NYSE:ETN)

LMR Partners LLP reduced its position in Eaton Co. plc (NYSE:ETN - Free Report) by 80.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,009 shares of the industrial products company's stock after selling 4,062 shares during the quarter. LMR Partners LLP's holdings in Eaton were worth $334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETN. Breakwater Investment Management boosted its position in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. acquired a new position in shares of Eaton during the second quarter valued at $29,000. LGT Financial Advisors LLC bought a new position in shares of Eaton during the second quarter worth about $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton in the 3rd quarter worth about $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton in the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

ETN has been the subject of several recent analyst reports. Bank of America upped their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Citigroup started coverage on Eaton in a research note on Monday, September 16th. They set a "buy" rating and a $348.00 target price on the stock. Barclays reduced their price target on Eaton from $327.00 to $320.00 and set an "equal weight" rating for the company in a research report on Friday, November 1st. Evercore ISI cut shares of Eaton from an "outperform" rating to an "inline" rating and lifted their price objective for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a "buy" rating and a $431.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $357.83.

Eaton Price Performance

ETN stock opened at $360.46 on Thursday. The firm has a 50-day moving average of $339.96 and a two-hundred day moving average of $322.31. The firm has a market capitalization of $142.45 billion, a PE ratio of 38.35, a P/E/G ratio of 2.85 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a one year low of $224.52 and a one year high of $373.49.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS 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 firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the business posted $2.47 EPS. The company's revenue was up 7.9% on a year-over-year basis. On average, analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently declared 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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, November 4th. Eaton's dividend payout ratio (DPR) is 40.00%.

Insider Buying and Selling

In other news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now owns 2,205 shares in the company, valued at $662,161.50. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the transaction, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. This trade represents a 44.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,705 shares of company stock worth $24,516,346. 0.33% of the stock is owned by company insiders.

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.