ING Groep NV Sells 31,148 Shares of Eaton Co. plc (NYSE:ETN)

ING Groep NV cut its stake in shares of Eaton Co. plc (NYSE:ETNFree Report) by 52.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,791 shares of the industrial products company’s stock after selling 31,148 shares during the quarter. ING Groep NV’s holdings in Eaton were worth $5,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. PCA Investment Advisory Services Inc. bought a new stake in Eaton during the second quarter valued at approximately $27,000. Marquette Asset Management LLC purchased a new stake in shares of Eaton in the 2nd quarter valued at $28,000. Glass Jacobson Investment Advisors llc purchased a new stake in shares of Eaton in the 2nd quarter valued at $29,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Eaton in the 4th quarter valued at $30,000. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Eaton in the 3rd quarter valued at $32,000. 81.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Sternadt Paulo Ruiz sold 2,639 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $228.05, for a total transaction of $601,823.95. Following the sale, the insider now directly owns 11,636 shares of the company’s stock, valued at approximately $2,653,589.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ETN. JPMorgan Chase & Co. raised shares of Eaton from a “neutral” rating to an “overweight” rating and set a $230.00 price objective for the company in a research note on Friday, October 6th. Wells Fargo & Company upped their price target on shares of Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a report on Tuesday, December 19th. Barclays upped their price target on shares of Eaton from $185.00 to $187.00 and gave the company an “underweight” rating in a report on Wednesday, November 1st. StockNews.com began coverage on shares of Eaton in a report on Thursday, October 5th. They set a “buy” rating for the company. Finally, Morgan Stanley upped their price target on shares of Eaton from $235.00 to $238.00 and gave the company an “overweight” rating in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $222.85.

Get Our Latest Stock Report on ETN

Eaton Stock Down 0.6 %

Shares of Eaton stock opened at $242.01 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.45 and a quick ratio of 0.96. The company has a 50-day moving average of $231.94 and a 200 day moving average of $219.23. The firm has a market cap of $96.63 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 2.07 and a beta of 1.05. Eaton Co. plc has a 1 year low of $150.86 and a 1 year high of $244.27.

Eaton (NYSE:ETNGet Free Report) last issued its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.13. The company had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.89 billion. Eaton had a net margin of 13.24% and a return on equity of 19.49%. Eaton’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $2.02 EPS. As a group, sell-side analysts anticipate that Eaton Co. plc will post 9.03 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Monday, November 6th were paid a $0.86 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $3.44 annualized dividend and a dividend yield of 1.42%. Eaton’s payout ratio is 46.05%.

Eaton Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.