Eaton Co. plc (NYSE:ETN) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,487 shares of the industrial products company’s stock after selling 697 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Eaton were worth $4,470,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ETN. Northwest & Ethical Investments L.P. grew its position in Eaton by 7.4% during the third quarter. Northwest & Ethical Investments L.P. now owns 13,664 shares of the industrial products company’s stock valued at $4,529,000 after acquiring an additional 947 shares during the period. Vinva Investment Management Ltd boosted its position in Eaton by 52.6% during the 3rd quarter. Vinva Investment Management Ltd now owns 18,117 shares of the industrial products company’s stock worth $5,951,000 after acquiring an additional 6,244 shares during the period. Financial Counselors Inc. increased its stake in shares of Eaton by 1.1% in the third quarter. Financial Counselors Inc. now owns 182,663 shares of the industrial products company’s stock worth $60,542,000 after acquiring an additional 2,049 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Eaton by 11.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 465,065 shares of the industrial products company’s stock worth $154,141,000 after purchasing an additional 46,720 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 66,981 shares of company stock valued at $24,100,317. 0.53% of the stock is owned by corporate insiders.

Eaton Trading Down 1.4 %

Shares of NYSE:ETN opened at $371.98 on Friday. The firm has a market cap of $147.01 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 2.82 and a beta of 1.01. The company’s fifty day simple moving average is $347.47 and its 200 day simple moving average is $324.22. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last released 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 firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the business posted $2.47 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts forecast that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 40.00%.

Wall Street Analyst Weigh In

ETN has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price 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. Barclays cut their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Morgan Stanley initiated coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Bank of America boosted their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $357.83.

About Eaton

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.