Eaton Co. PLC (NYSE:ETN) Stake Lowered by RFG Advisory LLC

RFG Advisory LLC cut its stake in shares of Eaton Co. PLC (NYSE:ETN) by 23.5% in the 3rd quarter, Holdings Channel reports. The firm owned 6,235 shares of the industrial products company’s stock after selling 1,912 shares during the quarter. RFG Advisory LLC’s holdings in Eaton were worth $636,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Jacobi Capital Management LLC grew its holdings in shares of Eaton by 5.1% during the second quarter. Jacobi Capital Management LLC now owns 2,491 shares of the industrial products company’s stock valued at $210,000 after purchasing an additional 120 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Eaton by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 5,557 shares of the industrial products company’s stock worth $432,000 after buying an additional 130 shares during the period. Samalin Investment Counsel LLC boosted its position in shares of Eaton by 2.7% during the second quarter. Samalin Investment Counsel LLC now owns 5,315 shares of the industrial products company’s stock worth $465,000 after buying an additional 141 shares during the period. BDO Wealth Advisors LLC boosted its position in shares of Eaton by 4.1% during the second quarter. BDO Wealth Advisors LLC now owns 3,608 shares of the industrial products company’s stock worth $316,000 after buying an additional 141 shares during the period. Finally, Valeo Financial Advisors LLC boosted its position in shares of Eaton by 6.0% during the second quarter. Valeo Financial Advisors LLC now owns 2,496 shares of the industrial products company’s stock worth $218,000 after buying an additional 142 shares during the period. 77.55% of the stock is owned by institutional investors.

Shares of NYSE:ETN opened at $108.19 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Eaton Co. PLC has a 1 year low of $56.42 and a 1 year high of $109.63. The firm has a fifty day moving average price of $103.00 and a 200 day moving average price of $90.54. The stock has a market capitalization of $43.29 billion, a PE ratio of 29.01, a P/E/G ratio of 2.32 and a beta of 1.12.

Eaton (NYSE:ETN) last released its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.17. Eaton had a net margin of 8.03% and a return on equity of 12.73%. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the prior year, the company earned $1.53 earnings per share. The business’s quarterly revenue was down 29.5% compared to the same quarter last year. On average, sell-side analysts forecast that Eaton Co. PLC will post 3.93 earnings per share for the current fiscal year.

In other Eaton news, insider Sternadt Paulo Ruiz sold 3,047 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $103.42, for a total transaction of $315,120.74. Also, insider Richard H. Fearon sold 40,550 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $102.01, for a total transaction of $4,136,505.50. Following the completion of the sale, the insider now owns 151,834 shares of the company’s stock, valued at approximately $15,488,586.34. The disclosure for this sale can be found here. Insiders have sold 93,597 shares of company stock valued at $9,550,626 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Several brokerages have recently issued reports on ETN. Royal Bank of Canada boosted their price objective on Eaton from $81.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Berenberg Bank assumed coverage on Eaton in a research report on Thursday, August 20th. They set a “hold” rating and a $110.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on Eaton from $104.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wells Fargo & Company upped their price target on Eaton from $110.00 to $130.00 in a report on Friday, October 9th. Finally, Credit Suisse Group upped their price target on shares of Eaton from $94.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $98.24.

Eaton Company Profile

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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