Xponance Inc. Trims Position in Eaton Co. plc (NYSE:ETN)

Xponance Inc. trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ETN. Capital World Investors increased its stake in shares of Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after acquiring an additional 2,439,270 shares during the period. Jennison Associates LLC increased its stake in shares of 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 acquiring an additional 1,219,790 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of Eaton by 2,006.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after acquiring an additional 918,936 shares during the period. Swedbank AB acquired a new position in shares of Eaton during the second quarter worth about $225,974,000. Finally, Artisan Partners Limited Partnership grew its position in Eaton by 207.5% during the fourth 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 during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Eaton Stock Performance

Shares of ETN opened at $330.60 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company has a market capitalization of $132.17 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 2.28 and a beta of 1.01. The company’s 50 day simple moving average is $299.93 and its 200 day simple moving average is $312.71. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion for 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%. On average, sell-side analysts predict that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

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

Analyst Upgrades and Downgrades

ETN has been the topic of several recent analyst reports. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. 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 target price on the stock. Citigroup initiated coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Raymond James lowered their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Finally, Wells Fargo & Company lowered their target price 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. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.