Eaton Co. plc (NYSE:ETN) Position Cut by Navellier & Associates Inc.

Navellier & Associates Inc. trimmed its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 42.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,025 shares of the industrial products company's stock after selling 15,945 shares during the period. Eaton accounts for 1.0% of Navellier & Associates Inc.'s portfolio, making the stock its 20th largest holding. Navellier & Associates Inc.'s holdings in Eaton were worth $7,300,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. IAM Advisory LLC purchased a new stake in Eaton in the 2nd quarter worth $599,000. Interval Partners LP boosted its stake in Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company's stock valued at $47,571,000 after buying an additional 68,693 shares during the last quarter. Scientech Research LLC increased its stake in Eaton by 285.5% in the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company's stock worth $1,801,000 after acquiring an additional 4,254 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Eaton by 25.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company's stock worth $8,657,000 after acquiring an additional 5,676 shares in the last quarter. Finally, Leavell Investment Management Inc. grew its holdings in shares of Eaton by 67.6% in the second quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company's stock valued at $2,683,000 after purchasing an additional 3,452 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Stock Up 2.9 %

ETN traded up $10.62 during trading hours on Thursday, reaching $371.08. 1,160,795 shares of the stock traded hands, compared to its average volume of 2,104,471. Eaton Co. plc has a fifty-two week low of $224.52 and a fifty-two week high of $373.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company has a market cap of $146.65 billion, a price-to-earnings ratio of 39.48, a PEG ratio of 2.89 and a beta of 1.01. The firm's fifty day simple moving average is $341.32 and its two-hundred day simple moving average is $322.65.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data 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. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business earned $2.47 EPS. Eaton's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors 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 yield of 1.01%. The ex-dividend date of this dividend is Monday, November 4th. Eaton's dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research reports. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 target price on the stock. Citigroup started coverage on Eaton in a report on Monday, September 16th. They issued a "buy" rating and a $348.00 target price for the company. Royal Bank of Canada restated an "outperform" rating and set a $374.00 price target on shares of Eaton in a report on Friday, November 1st. Morgan Stanley started coverage on shares of Eaton in a research note on Friday, September 6th. They set an "overweight" rating and a $370.00 price objective for the company. Finally, Wells Fargo & Company increased 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. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Eaton has a consensus rating of "Moderate Buy" and an average target price of $357.83.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 3,136 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company's stock, valued at $1,186,411.68. This represents a 44.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the firm's stock in a transaction dated 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 in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,705 shares of company stock valued at $24,516,346 over the last 90 days. 0.53% 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.