Wright Investors Service Inc. Sells 11,161 Shares of Eaton Co. plc (NYSE:ETN)

Wright Investors Service Inc. decreased its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 67.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,367 shares of the industrial products company's stock after selling 11,161 shares during the quarter. Wright Investors Service Inc.'s holdings in Eaton were worth $1,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. LifeSteps Financial Inc. bought a new position in shares of Eaton in the first quarter worth $25,000. Atwood & Palmer Inc. increased its holdings in shares of Eaton by 142.9% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company's stock worth $27,000 after purchasing an additional 50 shares during the period. Proffitt & Goodson Inc. bought a new position in shares of Eaton in the second quarter worth $29,000. Redmont Wealth Advisors LLC bought a new position in shares of Eaton in the first quarter worth $33,000. Finally, Clear Investment Research LLC bought a new position in shares of Eaton in the fourth quarter worth $29,000. Institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Eaton news, Director Karenann K. Terrell bought 500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now owns 500 shares of the company's stock, valued at $149,485. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares of the company's stock, valued at $2,858,328. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Eaton from $376.00 to $371.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group raised their price target on Eaton from $370.00 to $385.00 and gave the company a "buy" rating in a research report on Thursday, July 11th. Barclays raised their price target on Eaton from $318.00 to $319.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd. HSBC raised their price target on Eaton from $240.00 to $280.00 and gave the company a "hold" rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on Eaton from $279.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Eaton presently has a consensus rating of "Moderate Buy" and a consensus price target of $328.00.

Eaton Trading Down 0.8 %

Shares of NYSE ETN traded down $2.48 during trading hours on Wednesday, hitting $293.55. The company's stock had a trading volume of 2,108,901 shares, compared to its average volume of 2,166,620. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.56. The stock has a market cap of $117.36 billion, a price-to-earnings ratio of 34.66, a P/E/G ratio of 2.47 and a beta of 1.02. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The business has a 50-day simple moving average of $306.49 and a 200-day simple moving average of $310.35.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, analysts anticipate that Eaton Co. plc will post 10.66 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.28%. Eaton's payout ratio is presently 44.39%.

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.

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