Industrial Alliance Investment Management Inc. Has $106,000 Stock Holdings in Eaton Co. plc (NYSE:ETN)

Industrial Alliance Investment Management Inc. reduced its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 92.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 338 shares of the industrial products company's stock after selling 3,948 shares during the period. Eaton accounts for approximately 0.1% of Industrial Alliance Investment Management Inc.'s investment portfolio, making the stock its 25th biggest position. Industrial Alliance Investment Management Inc.'s holdings in Eaton were worth $106,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. LifeSteps Financial Inc. acquired a new stake in shares of Eaton in the first quarter valued at approximately $25,000. Atwood & Palmer Inc. raised its holdings in Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 50 shares in the last quarter. Proffitt & Goodson Inc. bought a new stake in shares of Eaton during the 2nd quarter valued at $29,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Eaton during the 1st quarter worth $33,000. Finally, Clear Investment Research LLC bought a new position in shares of Eaton in the fourth quarter worth $29,000. 82.97% of the stock is owned by institutional investors.

Eaton Trading Up 2.0 %

NYSE ETN traded up $5.93 on Friday, reaching $307.02. The company had a trading volume of 2,320,013 shares, compared to its average volume of 2,169,083. The firm has a market cap of $122.75 billion, a price-to-earnings ratio of 36.25, a P/E/G ratio of 2.47 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The business has a 50 day moving average of $305.37 and a two-hundred day moving average of $310.17.

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

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Monday, August 5th. Eaton's dividend payout ratio is presently 44.39%.

Insider Activity at Eaton

In other Eaton news, insider Michael Yelton sold 3,136 shares of the stock in a transaction dated Thursday, August 29th. The stock was 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 directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated 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 approximately $2,858,328. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company's stock, valued at $1,186,411.68. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 over the last quarter. Company insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ETN. Barclays upped their price objective on shares of Eaton from $318.00 to $319.00 and gave the stock an "equal weight" rating in a research report on Friday, August 2nd. HSBC increased their price target on shares of Eaton from $240.00 to $280.00 and gave the stock a "hold" rating in a research report on Friday, May 3rd. Evercore ISI reduced their target price on Eaton from $357.00 to $333.00 and set an "outperform" rating on the stock in a report on Monday, August 19th. Raymond James initiated coverage on Eaton in a research report on Friday, June 28th. They set an "outperform" rating and a $375.00 price objective for the company. Finally, Royal Bank of Canada decreased their target price on Eaton from $376.00 to $371.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $328.00.

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.

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