Eaton Co. plc (NYSE:ETN) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 30.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,690 shares of the industrial products company’s stock after selling 746 shares during the quarter. NorthRock Partners LLC’s holdings in Eaton were worth $560,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Crestwood Advisors Group LLC raised its holdings in Eaton by 3.2% during the third quarter. Crestwood Advisors Group LLC now owns 13,909 shares of the industrial products company’s stock worth $4,610,000 after purchasing an additional 435 shares in the last quarter. Arthur M. Cohen & Associates LLC increased its position in shares of Eaton by 55.9% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 5,463 shares of the industrial products company’s stock valued at $1,790,000 after purchasing an additional 1,958 shares during the period. Pittenger & Anderson Inc. raised its stake in shares of Eaton by 2.9% in the 3rd quarter. Pittenger & Anderson Inc. now owns 55,149 shares of the industrial products company’s stock worth $18,279,000 after buying an additional 1,540 shares in the last quarter. Clarity Financial LLC acquired a new stake in shares of Eaton in the third quarter valued at $442,000. Finally, Amalgamated Bank boosted its stake in Eaton by 5.9% during the third quarter. Amalgamated Bank now owns 85,459 shares of the industrial products company’s stock valued at $28,325,000 after buying an additional 4,731 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ETN shares. Citigroup began 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. Mizuho increased their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Jefferies Financial Group upped their price target on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $343.28.

Eaton Price Performance

NYSE ETN opened at $337.59 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a market capitalization of $133.42 billion, a price-to-earnings ratio of 35.91, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The company has a 50 day simple moving average of $324.60 and a 200-day simple moving average of $318.76. Eaton Co. plc has a 52-week low of $211.99 and a 52-week high of $349.74.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm earned $2.47 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that Eaton Co. plc will post 10.78 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.11%. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Insiders Place Their Bets

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Karenann K. Terrell purchased 500 shares of Eaton stock in a transaction on Wednesday, August 21st. The stock was bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,511 shares of company stock valued at $17,150,526 in the last three months. Insiders own 0.33% of the company’s stock.

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.