Douglas Lane & Associates LLC Sells 261 Shares of Eaton Co. plc (NYSE:ETN)

Douglas Lane & Associates LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 21.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 963 shares of the industrial products company’s stock after selling 261 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Eaton were worth $319,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Gilman Hill Asset Management LLC lifted its position in Eaton by 254.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 3,481 shares of the industrial products company’s stock valued at $1,154,000 after purchasing an additional 2,500 shares during the period. Bright Financial Advisors Inc. lifted its holdings in Eaton by 1.7% in the third quarter. Bright Financial Advisors Inc. now owns 12,141 shares of the industrial products company’s stock valued at $4,024,000 after buying an additional 198 shares during the period. Darrow Company Inc. bought a new position in Eaton in the third quarter valued at approximately $224,000. Ayrshire Capital Management LLC grew its holdings in Eaton by 24.7% during the 3rd quarter. Ayrshire Capital Management LLC now owns 20,270 shares of the industrial products company’s stock worth $6,718,000 after acquiring an additional 4,012 shares during the period. Finally, CHICAGO TRUST Co NA raised its position in shares of Eaton by 77.7% during the 3rd quarter. CHICAGO TRUST Co NA now owns 1,965 shares of the industrial products company’s stock valued at $651,000 after acquiring an additional 859 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In related news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Dorothy C. Thompson bought 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 in the last three months. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on ETN shares. Barclays raised their price target on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley assumed coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Raymond James decreased their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.47.

Eaton Stock Up 1.3 %

ETN stock opened at $341.39 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The stock has a market capitalization of $135.91 billion, a P/E ratio of 37.56, a P/E/G ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The business has a 50-day moving average of $307.72 and a 200-day moving average of $315.60.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.10%. Eaton’s dividend payout ratio (DPR) is presently 41.36%.

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.