Charles Schwab Investment Management Inc. Sells 13,608 Shares of Eaton Co. plc (NYSE:ETN)

Charles Schwab Investment Management Inc. lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,139,257 shares of the industrial products company’s stock after selling 13,608 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.54% of Eaton worth $430,205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Journey Advisory Group LLC lifted its holdings in shares of Eaton by 2.8% during the 1st quarter. Journey Advisory Group LLC now owns 4,807 shares of the industrial products company’s stock valued at $824,000 after purchasing an additional 133 shares in the last quarter. LMG Wealth Partners LLC lifted its holdings in shares of Eaton by 3.4% during the 2nd quarter. LMG Wealth Partners LLC now owns 9,080 shares of the industrial products company’s stock valued at $1,826,000 after purchasing an additional 300 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Eaton by 8.3% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 20,976 shares of the industrial products company’s stock valued at $4,218,000 after purchasing an additional 1,600 shares in the last quarter. Soltis Investment Advisors LLC lifted its holdings in shares of Eaton by 12.9% during the 2nd quarter. Soltis Investment Advisors LLC now owns 1,721 shares of the industrial products company’s stock valued at $346,000 after purchasing an additional 197 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in shares of Eaton by 6.2% during the 2nd quarter. J.Safra Asset Management Corp now owns 1,517 shares of the industrial products company’s stock valued at $305,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 81.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays boosted their target price on Eaton from $185.00 to $187.00 and gave the company an “underweight” rating in a research note on Wednesday, November 1st. Wells Fargo & Company cut their target price on Eaton from $228.00 to $210.00 in a research note on Monday, October 9th. Argus boosted their target price on Eaton from $195.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Mizuho boosted their price target on Eaton from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, StockNews.com started coverage on Eaton in a research report on Thursday, October 5th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $219.23.

Eaton Stock Performance

Shares of NYSE ETN opened at $225.53 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.45 and a quick ratio of 0.96. The stock’s fifty day moving average price is $213.43 and its two-hundred day moving average price is $203.74. Eaton Co. plc has a one year low of $150.86 and a one year high of $240.44. The firm has a market cap of $90.05 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 2.15 and a beta of 1.07.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, October 31st. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.13. The firm had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.89 billion. Eaton had a return on equity of 19.49% and a net margin of 13.24%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.02 EPS. On average, equities analysts forecast that Eaton Co. plc will post 9.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Monday, November 6th will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $3.44 annualized dividend and a dividend yield of 1.53%. Eaton’s dividend payout ratio is currently 46.05%.

Insider Buying and Selling

In other Eaton news, insider Taras G. Jr. Szmagala sold 1,869 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $226.68, for a total value of $423,664.92. Following the completion of the transaction, the insider now owns 7,431 shares of the company’s stock, valued at approximately $1,684,459.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Eaton news, insider Taras G. Jr. Szmagala sold 1,869 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $226.68, for a total value of $423,664.92. Following the completion of the transaction, the insider now owns 7,431 shares of the company’s stock, valued at approximately $1,684,459.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Thomas B. Okray sold 4,950 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $231.09, for a total value of $1,143,895.50. Following the completion of the transaction, the insider now directly owns 7,367 shares of the company’s stock, valued at approximately $1,702,440.03. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Eaton 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.