Natixis Advisors LLC Cuts Position in Eaton Co. plc (NYSE:ETN)

Natixis Advisors LLC reduced its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 15.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 539,683 shares of the industrial products company's stock after selling 95,920 shares during the quarter. Natixis Advisors LLC owned about 0.13% of Eaton worth $169,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ETN. LifeSteps Financial Inc. bought a new position in shares of Eaton in the first quarter worth $25,000. Atwood & Palmer Inc. increased its position in shares of Eaton by 142.9% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company's stock valued at $27,000 after buying an additional 50 shares during the period. Clear Investment Research LLC purchased a new stake in shares of Eaton in the fourth quarter worth about $29,000. Proffitt & Goodson Inc. bought a new position in shares of Eaton in the second quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Eaton during the 1st quarter valued at $33,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares of the company's stock, valued at $21,451,287.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karenann K. Terrell acquired 500 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the purchase, the director now directly owns 500 shares of the company's stock, valued at $149,485. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last ninety days. Company insiders own 0.53% of the company's stock.

Eaton Trading Up 1.9 %

Eaton stock traded up $5.84 during mid-day trading on Friday, reaching $306.93. 2,320,225 shares of the company traded hands, compared to its average volume of 2,438,304. The firm's 50 day moving average price is $305.11 and its 200 day moving average price is $310.66. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The firm has a market capitalization of $122.71 billion, a price-to-earnings ratio of 36.24, a P/E/G ratio of 2.35 and a beta of 1.02.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating 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 net margin of 15.12% and a return on equity of 21.45%. On average, analysts anticipate that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.23%. Eaton's dividend payout ratio is presently 44.39%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ETN shares. Royal Bank of Canada dropped their price target on Eaton from $376.00 to $371.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company cut their price target on shares of Eaton from $320.00 to $315.00 and set an "equal weight" rating for the company in a research note on Friday, August 2nd. Evercore ISI cut their target price on shares of Eaton from $357.00 to $333.00 and set an "outperform" rating for the company in a research report on Monday, August 19th. Raymond James assumed coverage on Eaton in a research report on Friday, June 28th. They set an "outperform" rating and a $375.00 price objective on the stock. Finally, Barclays boosted their price target on shares of Eaton from $318.00 to $319.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company 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.