3,014 Eaton Corporation, PLC $ETN Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC cut its holdings in Eaton Corporation, PLC (NYSE:ETN) by 3.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 91,045 shares of the industrial products company’s stock after selling 3,014 shares during the period. Eaton accounts for approximately 1.2% of Trillium Asset Management LLC’s portfolio, making the stock its 16th biggest holding. Trillium Asset Management LLC’s holdings in Eaton were worth $39,124,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in shares of Eaton by 87.1% in the third quarter. Assenagon Asset Management S.A. now owns 282,750 shares of the industrial products company’s stock worth $121,501,000 after acquiring an additional 131,624 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in Eaton during the 3rd quarter valued at $85,752,000. Wedmont Private Capital raised its stake in Eaton by 69.6% during the 3rd quarter. Wedmont Private Capital now owns 11,413 shares of the industrial products company’s stock valued at $4,845,000 after purchasing an additional 4,684 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Eaton by 5.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 69,297 shares of the industrial products company’s stock valued at $29,529,000 after purchasing an additional 3,638 shares during the last quarter. Finally, Strengthening Families & Communities LLC boosted its holdings in Eaton by 15,182.0% in the 3rd quarter. Strengthening Families & Communities LLC now owns 7,641 shares of the industrial products company’s stock valued at $3,283,000 after purchasing an additional 7,591 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN traded down $6.69 during midday trading on Friday, reaching $352.35. 1,832,731 shares of the company’s stock were exchanged, compared to its average volume of 3,276,685. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.78 and a current ratio of 1.23. The company’s 50 day simple moving average is $401.20 and its two-hundred day simple moving average is $397.13. Eaton Corporation, PLC has a 12 month low of $311.92 and a 12 month high of $478.00. The firm has a market capitalization of $136.89 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, November 3rd. The industrial products company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.14. Eaton had a net margin of 12.18% and a return on equity of 25.09%. The business had revenue of $8.95 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the previous year, the firm posted $3.07 earnings per share. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. Equities research analysts expect that Eaton Corporation, PLC will post 13.78 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Tuesday, November 10th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 10th. Eaton’s dividend payout ratio is currently 43.96%.

Analyst Ratings Changes

Several research firms have issued reports on ETN. Morgan Stanley raised their price target on shares of Eaton from $500.00 to $520.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. JPMorgan Chase & Co. started coverage on shares of Eaton in a research report on Wednesday. They set a “neutral” rating and a $395.00 price objective for the company. Robert W. Baird started coverage on shares of Eaton in a research note on Thursday, August 20th. They issued an “outperform” rating and a $500.00 target price for the company. BNP Paribas Exane lifted their target price on Eaton from $490.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Argus boosted their price target on Eaton from $475.00 to $528.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $476.86.

About Eaton

Eaton is a global power management company that designs and manufactures products and services intended to help customers manage electrical, hydraulic and mechanical power. Founded in 1911, the company serves customers across a range of industries, including utilities, commercial buildings, data centers, aerospace and transportation. Its offerings include electrical distribution and circuit protection equipment, power quality and backup systems, and power management software and services. Eaton also makes aerospace components and systems, as well as products for vehicle powertrains and related applications.