Eaton Co. plc (NYSE:ETN) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 68,207 shares of the industrial products company's stock after selling 1,719 shares during the period. Moran Wealth Management LLC's holdings in Eaton were worth $22,607,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Breakwater Investment Management boosted its holdings in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock worth $26,000 after buying an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new stake in shares of Eaton in the 2nd quarter worth $29,000. LGT Financial Advisors LLC bought a new position in Eaton in the 2nd quarter worth $33,000. West Financial Advisors LLC purchased a new position in Eaton during the third quarter valued at $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in Eaton during the second quarter valued at about $37,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Stock Down 0.9 %

Eaton stock traded down $3.23 during trading hours on Wednesday, reaching $360.46. The stock had a trading volume of 1,291,740 shares, compared to its average volume of 2,106,570. Eaton Co. plc has a 52 week low of $224.52 and a 52 week high of $373.49. The business's 50 day moving average price is $339.96 and its 200-day moving average price is $322.31. 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 $142.45 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 2.85 and a beta of 1.01.

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, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 earnings per share. Sell-side analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.04%. Eaton's dividend payout ratio (DPR) is presently 40.00%.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business's 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 transaction, the insider now directly owns 506,360 shares of the company's stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory R. Page sold 4,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,705 shares of company stock valued at $24,516,346. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on ETN shares. Citigroup started coverage on Eaton in a research note on Monday, September 16th. They set a "buy" rating and a $348.00 price objective for the company. Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an "outperform" rating and a $382.00 target price on the stock. Morgan Stanley assumed coverage on Eaton in a report on Friday, September 6th. They set an "overweight" rating and a $370.00 price target on the stock. Wolfe Research upgraded Eaton from an "underperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Finally, Barclays dropped their price target on Eaton from $327.00 to $320.00 and set an "equal weight" rating for the company in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $357.83.

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.