Pacer Advisors Inc. Sells 3,385 Shares of Eaton Co. plc (NYSE:ETN)

Pacer Advisors Inc. lessened its holdings in Eaton Co. plc (NYSE:ETN) by 10.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,512 shares of the industrial products company’s stock after selling 3,385 shares during the quarter. Pacer Advisors Inc.’s holdings in Eaton were worth $9,781,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Breakwater Investment Management grew its holdings in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new position in shares of Eaton in the 2nd quarter worth $29,000. LGT Financial Advisors LLC acquired a new stake in shares of Eaton during the second quarter worth $33,000. West Financial Advisors LLC bought a new stake in Eaton in the third quarter valued at about $35,000. Finally, DT Investment Partners LLC acquired a new position in Eaton in the third quarter valued at about $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the transaction, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. This represents a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,705 shares of company stock valued at $24,516,346. Insiders own 0.53% of the company’s stock.

Eaton Price Performance

Shares of ETN opened at $377.41 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $378.00. The stock has a market capitalization of $149.15 billion, a P/E ratio of 40.15, a P/E/G ratio of 2.94 and a beta of 1.01. The company has a 50 day moving average of $342.75 and a 200-day moving average of $322.97.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the firm earned $2.47 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities research analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.00%. Eaton’s payout ratio is presently 40.00%.

Analyst Ratings Changes

Several research firms have recently issued reports on ETN. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research note on Friday, November 1st. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Citigroup initiated coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target for the company. Finally, Raymond James reduced their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $357.83.

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.