Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 250 Shares of Eaton Co. PLC (NYSE:ETN)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its position in Eaton Co. PLC (NYSE:ETN) by 15.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,410 shares of the industrial products company’s stock after selling 250 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Eaton were worth $117,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Eaton by 1.4% during the second quarter. Vanguard Group Inc. now owns 33,329,894 shares of the industrial products company’s stock valued at $2,775,713,000 after purchasing an additional 458,692 shares in the last quarter. BlackRock Inc. lifted its position in Eaton by 1.1% during the second quarter. BlackRock Inc. now owns 30,504,507 shares of the industrial products company’s stock valued at $2,540,415,000 after purchasing an additional 341,830 shares in the last quarter. Northern Trust Corp lifted its position in Eaton by 0.4% during the second quarter. Northern Trust Corp now owns 6,090,154 shares of the industrial products company’s stock valued at $507,188,000 after purchasing an additional 25,664 shares in the last quarter. Invesco Ltd. lifted its position in Eaton by 28.1% during the second quarter. Invesco Ltd. now owns 5,815,463 shares of the industrial products company’s stock valued at $484,312,000 after purchasing an additional 1,276,325 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Eaton by 8.7% during the second quarter. Wells Fargo & Company MN now owns 5,251,156 shares of the industrial products company’s stock valued at $437,315,000 after purchasing an additional 420,565 shares in the last quarter. 78.73% of the stock is owned by institutional investors.

Shares of NYSE:ETN traded down $1.47 during mid-day trading on Wednesday, reaching $90.88. The stock had a trading volume of 844,864 shares, compared to its average volume of 2,354,767. The company has a current ratio of 1.72, a quick ratio of 1.10 and a debt-to-equity ratio of 0.52. The company has a market cap of $38.12 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 1.84 and a beta of 1.42. Eaton Co. PLC has a 1 year low of $64.46 and a 1 year high of $92.96. The business’s 50 day moving average price is $84.22 and its 200 day moving average price is $81.39.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.01. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.51 billion. Eaton had a return on equity of 15.15% and a net margin of 11.06%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 earnings per share. Analysts predict that Eaton Co. PLC will post 5.73 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.71 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.13%. Eaton’s dividend payout ratio is currently 52.69%.

In other Eaton news, insider Joao V. Faria sold 16,988 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $90.98, for a total transaction of $1,545,568.24. Following the sale, the insider now directly owns 58,841 shares of the company’s stock, valued at $5,353,354.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard H. Fearon sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $90.05, for a total value of $3,061,700.00. Following the sale, the insider now directly owns 200,384 shares in the company, valued at $18,044,579.20. The disclosure for this sale can be found here. Insiders sold 71,988 shares of company stock worth $6,439,428 over the last quarter. 0.70% of the stock is owned by company insiders.

Several equities analysts have recently commented on the company. KeyCorp boosted their price objective on Eaton from $93.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. HSBC downgraded Eaton from a “buy” rating to a “hold” rating and lowered their price objective for the company from $99.00 to $96.00 in a research report on Tuesday. Wells Fargo & Co boosted their price objective on Eaton from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada set a $84.00 price objective on Eaton and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley set a $87.00 price objective on Eaton and gave the company a “hold” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $91.29.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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