Russell Investments Group Ltd. cut its holdings in shares of Eaton Corporation, PLC (NYSE:ETN) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,144,053 shares of the industrial products company’s stock after selling 66,928 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.26% of Eaton Corporation, PLC worth $87,835,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Matrix Asset Advisors Inc. NY increased its stake in shares of Eaton Corporation, PLC by 0.5% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 312,454 shares of the industrial products company’s stock worth $24,318,000 after purchasing an additional 1,455 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Eaton Corporation, PLC by 24.4% during the 2nd quarter. Schroder Investment Management Group now owns 3,262,517 shares of the industrial products company’s stock worth $250,007,000 after purchasing an additional 640,198 shares during the last quarter. Cibc World Markets Corp increased its stake in shares of Eaton Corporation, PLC by 34.6% during the 2nd quarter. Cibc World Markets Corp now owns 63,203 shares of the industrial products company’s stock worth $4,919,000 after purchasing an additional 16,252 shares during the last quarter. State of Tennessee Treasury Department increased its stake in shares of Eaton Corporation, PLC by 7.6% during the 2nd quarter. State of Tennessee Treasury Department now owns 311,090 shares of the industrial products company’s stock worth $24,213,000 after purchasing an additional 21,856 shares during the last quarter. Finally, Financial Counselors Inc. increased its stake in shares of Eaton Corporation, PLC by 24.1% during the 2nd quarter. Financial Counselors Inc. now owns 32,494 shares of the industrial products company’s stock worth $2,529,000 after purchasing an additional 6,319 shares during the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Eaton Corporation, PLC (NYSE:ETN) traded up $0.57 during trading on Friday, hitting $76.44. 1,824,800 shares of the stock were exchanged, compared to its average volume of 2,325,661. Eaton Corporation, PLC has a 12 month low of $63.94 and a 12 month high of $82.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.43. The company has a market cap of $33,680.00, a P/E ratio of 16.93, a PEG ratio of 1.87 and a beta of 1.39.

Eaton Corporation, PLC (NYSE:ETN) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.25 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.25. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.12 billion. Eaton Corporation, PLC had a net margin of 14.21% and a return on equity of 12.89%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 EPS. equities analysts predict that Eaton Corporation, PLC will post 4.6 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.14%. The ex-dividend date is Thursday, November 2nd. Eaton Corporation, PLC’s payout ratio is 55.05%.

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Several research firms have recently weighed in on ETN. Stifel Nicolaus restated a “hold” rating and set a $85.00 price objective on shares of Eaton Corporation, PLC in a research note on Friday, November 3rd. Citigroup Inc. upped their price target on shares of Eaton Corporation, PLC from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Jefferies Group LLC upped their price target on shares of Eaton Corporation, PLC from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday, November 1st. Credit Suisse Group reiterated an “outperform” rating and issued a $92.00 price target (up previously from $86.00) on shares of Eaton Corporation, PLC in a research note on Wednesday, November 1st. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Eaton Corporation, PLC in a research note on Tuesday, October 31st. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $82.86.

In related news, Director Christopher M. Connor sold 6,450 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $78.04, for a total value of $503,358.00. Following the completion of the transaction, the director now owns 20,100 shares of the company’s stock, valued at approximately $1,568,604. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Revathi Advaithi sold 23,743 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $78.36, for a total transaction of $1,860,501.48. Following the completion of the transaction, the insider now directly owns 31,028 shares of the company’s stock, valued at approximately $2,431,354.08. The disclosure for this sale can be found here. In the last three months, insiders sold 36,643 shares of company stock valued at $2,835,806. 0.80% of the stock is owned by insiders.

Eaton Corporation, PLC Profile

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

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Institutional Ownership by Quarter for Eaton Corporation, PLC (NYSE:ETN)

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