Janney Montgomery Scott LLC Reduces Position in Eaton Co. plc (NYSE:ETN)

Janney Montgomery Scott LLC lessened its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 421,793 shares of the industrial products company's stock after selling 2,961 shares during the quarter. Janney Montgomery Scott LLC owned 0.11% of Eaton worth $139,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Diversify Advisory Services LLC bought a new position in shares of Eaton during the 1st quarter worth $371,000. Choreo LLC grew its stake in Eaton by 1.1% in the 1st quarter. Choreo LLC now owns 3,914 shares of the industrial products company's stock valued at $1,224,000 after buying an additional 41 shares in the last quarter. Jennison Associates LLC raised its holdings in Eaton by 2,857.4% during the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company's stock valued at $394,752,000 after acquiring an additional 1,219,790 shares during the period. Peregrine Asset Advisers Inc. purchased a new stake in shares of Eaton during the first quarter worth $255,000. Finally, Suncoast Equity Management boosted its holdings in shares of Eaton by 278.7% in the first quarter. Suncoast Equity Management now owns 68,983 shares of the industrial products company's stock worth $21,570,000 after acquiring an additional 50,768 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 1.0 %

ETN stock traded up $3.42 on Friday, reaching $335.00. 2,369,253 shares of the company traded hands, compared to its average volume of 1,542,622. The company has a market cap of $133.36 billion, a P/E ratio of 35.64, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The firm has a fifty day simple moving average of $323.09 and a 200-day simple moving average of $318.36. Eaton Co. plc has a one year low of $211.99 and a one year high of $349.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.07.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business posted $2.47 EPS. The company's revenue was up 7.9% compared to the same quarter last year. Research analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid 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 1.12%. Eaton's dividend payout ratio is presently 40.00%.

Analyst Upgrades and Downgrades

ETN has been the topic of several analyst reports. Raymond James decreased their price target on Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a research report on Monday, September 9th. Wells Fargo & Company boosted their target price on Eaton from $315.00 to $342.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $374.00 price objective on shares of Eaton in a research note on Friday. Wolfe Research upgraded shares of Eaton from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. Finally, Barclays decreased their price objective on shares of Eaton from $327.00 to $320.00 and set an "equal weight" rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $341.00.

Insider Transactions at Eaton

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares of the company's stock, valued at $662,161.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dorothy C. Thompson purchased 2,205 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 in the last ninety days. 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.