Palladium Partners LLC lessened its holdings in shares of Eaton Corporation, PLC (NYSE:ETN) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,331 shares of the industrial products company’s stock after selling 651 shares during the quarter. Palladium Partners LLC’s holdings in Eaton Corporation, PLC were worth $1,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ETN. Bank of Nova Scotia boosted its stake in shares of Eaton Corporation, PLC by 4.7% during the 1st quarter. Bank of Nova Scotia now owns 10,715 shares of the industrial products company’s stock worth $795,000 after acquiring an additional 483 shares during the last quarter. Cambridge Trust Co. purchased a new position in shares of Eaton Corporation, PLC during the 1st quarter worth $200,000. Achmea Investment Management B.V. purchased a new position in shares of Eaton Corporation, PLC during the 1st quarter worth $8,062,000. UBS Oconnor LLC lifted its stake in shares of Eaton Corporation, PLC by 1.0% during the 1st quarter. UBS Oconnor LLC now owns 235,500 shares of the industrial products company’s stock valued at $17,462,000 after buying an additional 2,311 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Eaton Corporation, PLC by 6.4% during the 1st quarter. Clearbridge Investments LLC now owns 43,217 shares of the industrial products company’s stock valued at $3,205,000 after buying an additional 2,598 shares in the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

Eaton Corporation, PLC (NYSE:ETN) traded down $1.02 during trading on Thursday, hitting $75.87. 2,029,800 shares of the stock were exchanged, compared to its average volume of 2,327,927. Eaton Corporation, PLC has a 12-month low of $63.94 and a 12-month high of $82.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.43. The company has a market cap of $33,877.73, a P/E ratio of 17.16, a PEG ratio of 1.89 and a beta of 1.39.

Eaton Corporation, PLC (NYSE:ETN) last posted its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.25. Eaton Corporation, PLC had a net margin of 14.21% and a return on equity of 12.89%. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the previous year, the firm posted $1.16 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. sell-side analysts forecast that Eaton Corporation, PLC will post 4.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 3rd will be issued a $0.60 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.16%. Eaton Corporation, PLC’s dividend payout ratio (DPR) is presently 37.68%.

A number of research analysts recently weighed in on ETN shares. Citigroup Inc. lifted their target price on shares of Eaton Corporation, PLC from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Credit Suisse Group restated an “outperform” rating and set a $92.00 target price (up previously from $86.00) on shares of Eaton Corporation, PLC in a research note on Wednesday, November 1st. Buckingham Research started coverage on shares of Eaton Corporation, PLC in a research note on Tuesday, October 17th. They set a “neutral” rating and a $82.00 target price on the stock. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Eaton Corporation, PLC in a research note on Tuesday, October 31st. Finally, Stifel Nicolaus restated a “hold” rating and set a $85.00 target price on shares of Eaton Corporation, PLC in a research note on Friday, November 3rd. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. Eaton Corporation, PLC currently has an average rating of “Hold” and a consensus price target of $82.86.

In other news, insider Revathi Advaithi sold 23,743 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $78.36, for a total value of $1,860,501.48. Following the sale, the insider now directly owns 31,028 shares in the company, valued at approximately $2,431,354.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher M. Connor sold 6,450 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $78.04, for a total transaction of $503,358.00. Following the completion of the sale, the director now owns 20,100 shares in the company, valued at $1,568,604. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,643 shares of company stock worth $2,835,806. Insiders own 0.80% of the company’s stock.

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About Eaton Corporation, PLC

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

Institutional Ownership by Quarter for Eaton Corporation, PLC (NYSE:ETN)

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