Eaton Co. plc (NYSE:ETN) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 230,678 shares of the industrial products company’s stock after selling 6,650 shares during the period. Rockefeller Capital Management L.P. owned about 0.06% of Eaton worth $76,448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of Eaton by 0.6% in the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after purchasing an additional 18,077 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Eaton by 253.2% during the third 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 worth $753,590,000 after buying an additional 1,629,856 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Eaton by 2.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock valued at $471,370,000 after purchasing an additional 40,078 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after buying an additional 1,070,024 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Eaton by 8.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 923,033 shares of the industrial products company’s stock valued at $305,930,000 after buying an additional 74,415 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,981 shares of company stock valued at $24,100,317 over the last 90 days. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Mizuho increased their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. UBS Group assumed coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and lifted their price objective for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $374.00 price target on shares of Eaton in a report on Friday, November 1st. Finally, Citigroup initiated coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Eaton Stock Up 0.9 %

ETN stock opened at $375.43 on Friday. The company has a market capitalization of $148.37 billion, a P/E ratio of 39.94, a PEG ratio of 2.82 and a beta of 1.01. The firm has a 50 day simple moving average of $348.37 and a 200-day simple moving average of $324.54. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a twelve month low of $224.61 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for 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 revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.47 EPS. On average, equities research analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors 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 1.00%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio is currently 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.