Quantbot Technologies LP Sells 11,955 Shares of Eaton Co. plc (NYSE:ETN)

Quantbot Technologies LP reduced its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 37.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,654 shares of the industrial products company's stock after selling 11,955 shares during the period. Quantbot Technologies LP's holdings in Eaton were worth $6,514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Strategic Wealth Partners Ltd. increased its stake in Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company's stock worth $340,000 after buying an additional 30 shares during the period. Fairfield Financial Advisors LTD increased its position in shares of Eaton by 16.2% during the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company's stock worth $71,000 after acquiring an additional 30 shares during the last quarter. Legacy Capital Group California Inc. lifted its stake in shares of Eaton by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company's stock worth $870,000 after acquiring an additional 32 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Eaton by 2.1% in the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company's stock valued at $513,000 after purchasing an additional 32 shares during the last quarter. Finally, Well Done LLC grew its stake in Eaton by 1.3% during the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company's stock valued at $800,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Wolfe Research upgraded shares of Eaton from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Finally, Barclays lowered their price objective on Eaton from $327.00 to $320.00 and set an "equal weight" rating for the company in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $357.83.

Insider Activity at Eaton

In related news, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company's stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,117 shares of company stock valued at $25,050,901 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

Shares of Eaton stock traded up $0.61 during trading on Tuesday, hitting $377.29. 2,096,053 shares of the stock were exchanged, compared to its average volume of 2,112,109. The stock's fifty day moving average is $344.15 and its 200 day moving average is $323.22. The stock has a market cap of $149.11 billion, a PE ratio of 40.29, a P/E/G ratio of 2.99 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.47 earnings per share. As a group, sell-side analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.00%. Eaton's dividend payout ratio is presently 40.00%.

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.