Banque Cantonale Vaudoise Sells 532 Shares of Eaton Co. plc (NYSE:ETN)

Banque Cantonale Vaudoise lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 19.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,231 shares of the industrial products company’s stock after selling 532 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Eaton were worth $739,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Breakwater Investment Management increased its holdings in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new position in shares of Eaton in the second quarter valued at approximately $29,000. LGT Financial Advisors LLC acquired a new stake in Eaton during the 2nd quarter worth approximately $33,000. West Financial Advisors LLC bought a new stake in Eaton during the 3rd quarter worth approximately $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in Eaton in the 2nd quarter valued at approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research report on Friday, November 1st. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays lowered their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Finally, Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $357.83.

Eaton Stock Up 2.9 %

Shares of NYSE ETN opened at $371.08 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $373.49. The stock has a market capitalization of $146.65 billion, a P/E ratio of 39.48, a P/E/G ratio of 2.89 and a beta of 1.01. The company has a 50-day moving average price of $341.32 and a 200-day moving average price of $322.65.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the company posted $2.47 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is 40.00%.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 68,705 shares of company stock worth $24,516,346 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.

Eaton 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.