ASB Consultores LLC Sells 162 Shares of Eaton Co. plc (NYSE:ETN)

ASB Consultores LLC reduced its stake in Eaton Co. plc (NYSE:ETN) by 12.2% during the third quarter, HoldingsChannel.com reports. The fund owned 1,161 shares of the industrial products company’s stock after selling 162 shares during the quarter. ASB Consultores LLC’s holdings in Eaton were worth $385,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. FSM Wealth Advisors LLC bought a new stake in shares of Eaton in the third quarter worth about $216,000. Impax Asset Management Group plc purchased a new position in Eaton during the 3rd quarter valued at approximately $2,347,000. Hazlett Burt & Watson Inc. increased its stake in Eaton by 36.7% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 451 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 121 shares during the last quarter. Red Cedar Investment Management LLC raised its holdings in shares of Eaton by 14.8% during the 3rd quarter. Red Cedar Investment Management LLC now owns 25,613 shares of the industrial products company’s stock worth $8,489,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Leeward Financial Partners LLC boosted its position in shares of Eaton by 3.9% during the 3rd quarter. Leeward Financial Partners LLC now owns 20,766 shares of the industrial products company’s stock valued at $6,883,000 after acquiring an additional 777 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 0.9 %

NYSE ETN opened at $331.13 on Tuesday. The company has a fifty day simple moving average of $323.78 and a two-hundred day simple moving average of $318.52. Eaton Co. plc has a 12-month low of $211.99 and a 12-month high of $349.74. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a market cap of $130.86 billion, a P/E ratio of 35.23, a P/E/G ratio of 2.55 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the business posted $2.47 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts forecast that Eaton Co. plc will post 10.78 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.14%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Evercore ISI decreased their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company lifted their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Citigroup assumed coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Raymond James lowered their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $343.28.

Insider Activity

In other news, Director Karenann K. Terrell bought 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, with a total value of $149,485.00. Following the acquisition, the director now directly owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Eaton news, Director Karenann K. Terrell purchased 500 shares of the stock in a transaction on Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at $149,485. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders sold a total of 56,511 shares of company stock valued at $17,150,526 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Eaton Company 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.