iA Global Asset Management Inc. Sells 32,819 Shares of Eaton Co. plc (NYSE:ETN)

iA Global Asset Management Inc. lessened its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 89.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,836 shares of the industrial products company's stock after selling 32,819 shares during the period. iA Global Asset Management Inc.'s holdings in Eaton were worth $1,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Strategic Wealth Partners Ltd. raised its stake 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 worth $340,000 after acquiring an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD increased its position in Eaton by 16.2% during 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 in the last quarter. Legacy Capital Group California Inc. boosted its position in Eaton by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company's stock valued at $870,000 after buying an additional 32 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company's stock worth $513,000 after buying an additional 32 shares during the last quarter. Finally, Well Done LLC increased its holdings in shares of Eaton by 1.3% during the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company's stock worth $800,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insiders Place Their Bets

In related news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company's stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,981 shares of company stock worth $24,100,317. Corporate insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ETN. Bank of America boosted their price objective on Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Barclays upped their price objective on Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Raymond James cut their target price on shares of Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a research report on Monday, September 9th. Citigroup raised their price target on shares of Eaton from $394.00 to $440.00 and gave the company a "buy" rating in a research note on Monday. Finally, Wolfe Research raised shares of Eaton from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Eaton currently has an average rating of "Moderate Buy" and an average target price of $367.83.

Eaton Trading Down 1.5 %

Shares of ETN stock traded down $5.51 during trading hours on Tuesday, hitting $358.55. 1,891,098 shares of the company were exchanged, compared to its average volume of 2,088,361. The company has a 50 day simple moving average of $353.40 and a two-hundred day simple moving average of $325.99. The firm has a market cap of $141.70 billion, a P/E ratio of 38.14, a P/E/G ratio of 2.81 and a beta of 1.03. 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 fifty-two week low of $231.84 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same period last year, the company posted $2.47 earnings per share. The business's quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The company also recently declared 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. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, November 4th. Eaton's dividend payout ratio (DPR) is currently 40.00%.

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.