Trust Investment Advisors Sells 169 Shares of Eaton Co. plc (NYSE:ETN)

Trust Investment Advisors reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,627 shares of the industrial products company’s stock after selling 169 shares during the period. Eaton comprises approximately 1.3% of Trust Investment Advisors’ portfolio, making the stock its 16th biggest position. Trust Investment Advisors’ holdings in Eaton were worth $2,078,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors raised its position in Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares during the last quarter. Jennison Associates LLC boosted its holdings in Eaton by 2,857.4% during the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after purchasing an additional 1,219,790 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Eaton by 2,006.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after purchasing an additional 918,936 shares in the last quarter. Swedbank AB purchased a new stake in Eaton in the 2nd quarter valued at about $225,974,000. Finally, Artisan Partners Limited Partnership lifted its position in shares of Eaton by 207.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock worth $233,698,000 after buying an additional 654,855 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of NYSE ETN opened at $328.92 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The stock has a market cap of $131.50 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The stock has a fifty day moving average of $299.93 and a 200-day moving average of $312.22.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Equities research analysts anticipate that Eaton Co. plc will post 10.74 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, August 5th. Eaton’s payout ratio is 44.39%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup started coverage on Eaton in a research report on Monday. They set a “buy” rating and a $348.00 price target for the company. Evercore ISI lowered their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Royal Bank of Canada reduced their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Raymond James reduced their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $337.41.

Insider Activity

In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dorothy C. Thompson bought 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, for a total transaction of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 in the last three months. Corporate insiders own 0.53% of the company’s stock.

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.