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

Trillium Asset Management LLC lessened its stake in Eaton Corporation, PLC (NYSE:ETN) by 3.2% during the 3rd quarter, according to the company in its most recent 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 quarter. Eaton accounts for about 1.2% of Trillium Asset Management LLC’s holdings, making the stock its 16th biggest position. Trillium Asset Management LLC’s holdings in Eaton were worth $39,124,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Eaton by 19.6% during the 2nd quarter. Wellington Management Group LLP now owns 6,827,266 shares of the industrial products company’s stock valued at $2,909,235,000 after buying an additional 1,120,567 shares during the period. National Pension Service increased its stake in shares of Eaton by 3.5% in the second quarter. National Pension Service now owns 864,731 shares of the industrial products company’s stock worth $368,479,000 after acquiring an additional 29,436 shares during the last quarter. Aberdeen Group plc increased its stake in shares of Eaton by 24.1% in the third quarter. Aberdeen Group plc now owns 838,318 shares of the industrial products company’s stock worth $360,234,000 after acquiring an additional 162,941 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Eaton by 5.6% during the third quarter. Russell Investments Group Ltd. now owns 475,488 shares of the industrial products company’s stock worth $204,391,000 after acquiring an additional 25,003 shares in the last quarter. Finally, AMF Tjanstepension AB raised its holdings in shares of Eaton by 1.4% during the third quarter. AMF Tjanstepension AB now owns 364,814 shares of the industrial products company’s stock worth $156,764,000 after acquiring an additional 5,168 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 1.9%

Shares of ETN traded down $6.69 during trading hours on Friday, hitting $352.35. 1,832,731 shares of the company 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 has a market cap of $136.89 billion, a PE ratio of 35.20, a PEG ratio of 2.26 and a beta of 1.15. The firm’s 50 day moving average is $401.20 and its 200-day moving average is $397.13. Eaton Corporation, PLC has a 52 week low of $311.92 and a 52 week high of $478.00.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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 return on equity of 25.09% and a net margin of 12.18%. The business had revenue of $8.95 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same period last year, the business earned $3.07 EPS. The firm’s revenue was up 28.0% compared to the same quarter last year. On average, equities research analysts forecast that Eaton Corporation, PLC will post 13.78 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Tuesday, November 10th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.2%. Eaton’s dividend payout ratio (DPR) is currently 43.96%.

Analysts Set New Price Targets

ETN has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on Eaton from $500.00 to $520.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Deutsche Bank raised their price target on Eaton from $493.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, September 30th. Robert W. Baird started coverage on Eaton in a report on Thursday, August 20th. They set an “outperform” rating and a $500.00 price target for the company. BNP Paribas Exane boosted their price target on Eaton from $490.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, Wells Fargo & Company dropped their price objective on Eaton from $503.00 to $485.00 and set an “overweight” rating on the stock in a report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $476.86.

Eaton Profile

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.