Xponance Inc. Decreases Stock Holdings in Eaton Co. plc (NYSE:ETN)

Xponance Inc. lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,699 shares of the industrial products company’s stock after selling 4,509 shares during the quarter. Xponance Inc.’s holdings in Eaton were worth $17,464,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ETN. Gryphon Financial Partners LLC raised its position in shares of Eaton by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after buying an additional 1,053 shares during the period. Orion Portfolio Solutions LLC raised its position in shares of Eaton by 0.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 30,986 shares of the industrial products company’s stock valued at $7,405,000 after buying an additional 258 shares during the period. Sepio Capital LP raised its position in shares of Eaton by 21.6% during the 4th quarter. Sepio Capital LP now owns 1,554 shares of the industrial products company’s stock valued at $374,000 after buying an additional 276 shares during the period. Nations Financial Group Inc. IA ADV raised its position in shares of Eaton by 4.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,522 shares of the industrial products company’s stock valued at $607,000 after buying an additional 113 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Eaton by 57.0% during the 4th quarter. Hsbc Holdings PLC now owns 402,471 shares of the industrial products company’s stock valued at $96,861,000 after buying an additional 146,056 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 over the last ninety days. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $330.60 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $299.93 and a 200 day moving average price of $312.71. The company has a market cap of $132.17 billion, a P/E ratio of 39.03, a PEG ratio of 2.28 and a beta of 1.01. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Sell-side analysts predict that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ETN shares. Barclays lifted their target price on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Morgan Stanley started coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Citigroup started coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Finally, Raymond James dropped their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $337.41.

Eaton Company Profile

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.