SVB Wealth LLC Sells 10,716 Shares of Eaton Co. plc (NYSE:ETN)

SVB Wealth LLC lessened its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 16.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,793 shares of the industrial products company's stock after selling 10,716 shares during the quarter. SVB Wealth LLC's holdings in Eaton were worth $17,180,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ETN. Vanguard Group Inc. boosted its holdings in Eaton by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company's stock worth $8,812,966,000 after buying an additional 259,615 shares during the last quarter. Norges Bank bought a new position in Eaton during the 4th quarter worth approximately $1,087,983,000. Coatue Management LLC grew its holdings in Eaton by 5.2% during the fourth quarter. Coatue Management LLC now owns 3,986,445 shares of the industrial products company's stock valued at $960,016,000 after purchasing an additional 195,809 shares during the period. Capital World Investors increased its stake in Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company's stock valued at $998,255,000 after purchasing an additional 2,439,270 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in Eaton by 19.9% in the fourth quarter. TD Asset Management Inc now owns 2,029,795 shares of the industrial products company's stock worth $488,815,000 after purchasing an additional 337,351 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Down 0.3 %

Shares of NYSE ETN traded down $0.75 during mid-day trading on Friday, hitting $284.97. The company had a trading volume of 2,163,854 shares, compared to its average volume of 2,172,430. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The company has a market capitalization of $113.93 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $302.48 and a two-hundred day simple moving average of $311.18.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts' consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, equities analysts expect that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Monday, August 5th. Eaton's dividend payout ratio is currently 44.39%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ETN. Jefferies Financial Group upped their price objective on shares of 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 stock an "equal weight" rating in a research report on Friday, August 2nd. Wells Fargo & Company decreased their price objective on Eaton from $320.00 to $315.00 and set an "equal weight" rating for the company in a research report on Friday, August 2nd. Wolfe Research upgraded shares of Eaton from an "underperform" rating to a "peer perform" rating in a report on Friday. Finally, Raymond James started coverage on shares of Eaton in a report on Friday, June 28th. They issued an "outperform" rating and a $375.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $335.76.

Insider Activity

In other news, Director Karenann K. Terrell bought 500 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the purchase, the director now owns 500 shares of the company's stock, valued at approximately $149,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Dorothy C. Thompson acquired 2,205 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company's stock, valued at $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the acquisition, the director now directly owns 500 shares in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 in the last quarter. Company insiders own 0.53% of the company's stock.

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.