Mutual of America Capital Management LLC Cuts Stock Position in Eaton Co. plc (NYSE:ETN)

Mutual of America Capital Management LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 2.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 49,032 shares of the industrial products company's stock after selling 1,406 shares during the period. Mutual of America Capital Management LLC's holdings in Eaton were worth $16,251,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ETN. WESPAC Advisors SoCal LLC bought a new position in Eaton in the 3rd quarter worth about $4,840,000. Vaughan Nelson Investment Management L.P. purchased a new position in Eaton in the third quarter worth about $137,794,000. River Street Advisors LLC lifted its stake in shares of Eaton by 3.7% in the third quarter. River Street Advisors LLC now owns 6,361 shares of the industrial products company's stock worth $2,108,000 after buying an additional 227 shares in the last quarter. KPP Advisory Services LLC grew its holdings in shares of Eaton by 128.2% during the third quarter. KPP Advisory Services LLC now owns 1,773 shares of the industrial products company's stock valued at $588,000 after buying an additional 996 shares during the last quarter. Finally, Maxwell Wealth Strategies Inc. increased its position in shares of Eaton by 51.9% during the third quarter. Maxwell Wealth Strategies Inc. now owns 22,088 shares of the industrial products company's stock valued at $7,454,000 after acquiring an additional 7,545 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other Eaton news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. The trade was a 44.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Karenann K. Terrell purchased 500 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was bought at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the purchase, the director now owns 500 shares in the company, valued at approximately $149,485. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 68,705 shares of company stock worth $24,516,346 over the last ninety days. Corporate insiders own 0.53% of the company's stock.

Eaton Stock Performance

Shares of NYSE ETN traded down $2.87 during trading on Friday, hitting $358.99. The company had a trading volume of 2,232,026 shares, compared to its average volume of 2,038,455. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $373.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The firm has a market capitalization of $141.87 billion, a P/E ratio of 38.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.01. The stock has a 50 day simple moving average of $335.82 and a 200 day simple moving average of $321.37.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. The business 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 earnings per share. As a group, analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. Eaton's dividend payout ratio is presently 40.00%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group started coverage on Eaton in a research report on Wednesday. They issued a "buy" rating and a $431.00 price objective on the stock. Citigroup started coverage on Eaton in a research report on Monday, September 16th. They set a "buy" rating and a $348.00 price objective on the stock. Evercore ISI lowered Eaton from an "outperform" rating to an "inline" rating and boosted their target price for the stock from $333.00 to $389.00 in a research report on Wednesday. Barclays dropped their price target on shares of Eaton from $327.00 to $320.00 and set an "equal weight" rating on the stock in a report on Friday, November 1st. Finally, Sanford C. Bernstein assumed coverage on shares of Eaton in a report on Tuesday, November 5th. They set an "outperform" rating and a $382.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Eaton presently has a consensus rating of "Moderate Buy" and an average price target of $357.83.

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.