Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its position in Eaton Co. PLC (NYSE:ETN) by 22.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,557 shares of the industrial products company’s stock after selling 10,220 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Eaton were worth $3,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stephens Inc. AR raised its holdings in shares of Eaton by 5.2% during the second quarter. Stephens Inc. AR now owns 75,832 shares of the industrial products company’s stock valued at $5,668,000 after purchasing an additional 3,775 shares during the last quarter. South Texas Money Management Ltd. raised its holdings in shares of Eaton by 13.9% during the second quarter. South Texas Money Management Ltd. now owns 437,414 shares of the industrial products company’s stock valued at $32,692,000 after purchasing an additional 53,275 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in shares of Eaton by 44.2% during the second quarter. OppenheimerFunds Inc. now owns 996,721 shares of the industrial products company’s stock valued at $74,495,000 after purchasing an additional 305,393 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of Eaton by 11.1% during the second quarter. Independent Advisor Alliance now owns 14,434 shares of the industrial products company’s stock valued at $993,000 after purchasing an additional 1,440 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Eaton by 1.9% during the second quarter. BlackRock Inc. now owns 29,464,156 shares of the industrial products company’s stock valued at $2,202,152,000 after purchasing an additional 539,852 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Shares of ETN stock opened at $73.48 on Tuesday. Eaton Co. PLC has a 12 month low of $67.70 and a 12 month high of $89.85. The company has a market cap of $32.18 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.35 and a beta of 1.49. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.49 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, October 30th. The industrial products company reported $1.43 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.43. Eaton had a net margin of 10.06% and a return on equity of 13.48%. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. As a group, research analysts predict that Eaton Co. PLC will post 5.35 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 16th. Shareholders of record on Friday, November 2nd were issued a dividend of $0.66 per share. The ex-dividend date was Thursday, November 1st. This represents a $2.64 dividend on an annualized basis and a yield of 3.59%. Eaton’s dividend payout ratio is currently 56.77%.

Several research analysts have recently weighed in on ETN shares. Wells Fargo & Co reissued a “buy” rating on shares of Eaton in a report on Wednesday, September 26th. Deutsche Bank boosted their price objective on shares of Eaton from $95.00 to $102.00 and gave the company a “buy” rating in a report on Friday, September 28th. UBS Group raised shares of Eaton from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $91.00 to $100.00 in a report on Friday, September 21st. Morgan Stanley started coverage on shares of Eaton in a report on Monday, August 20th. They set an “equal weight” rating and a $86.00 price objective for the company. Finally, Credit Suisse Group initiated coverage on shares of Eaton in a report on Friday, October 12th. They set an “outperform” rating and a $91.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Eaton has an average rating of “Buy” and a consensus target price of $86.12.

In other news, insider Richard H. Fearon sold 25,000 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $83.29, for a total value of $2,082,250.00. Following the completion of the sale, the insider now directly owns 221,459 shares of the company’s stock, valued at $18,445,320.11. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Deborah L. Mccoy sold 3,000 shares of the stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $84.55, for a total transaction of $253,650.00. Following the completion of the sale, the director now directly owns 32,936 shares of the company’s stock, valued at $2,784,738.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,000 shares of company stock valued at $4,617,645. Corporate insiders own 0.50% of the company’s stock.

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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.

Further Reading: What are Institutional Investors?

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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