Eaton Co. plc (NYSE:ETN) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its holdings in Eaton Co. plc (NYSE:ETN) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,881 shares of the industrial products company’s stock after selling 1,944 shares during the quarter. Pathstone Holdings LLC’s holdings in Eaton were worth $20,178,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Breakwater Investment Management increased its position in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. purchased a new stake in Eaton during the 2nd quarter worth about $29,000. LGT Financial Advisors LLC acquired a new position in Eaton in the 2nd quarter valued at about $33,000. West Financial Advisors LLC purchased a new position in Eaton in the 3rd quarter valued at about $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Eaton during the second quarter worth about $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ETN shares. Citigroup initiated coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Wells Fargo & Company raised their price objective on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Bank of America upped their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Barclays decreased their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $357.83.

Eaton Trading Up 1.6 %

NYSE:ETN opened at $363.66 on Wednesday. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $373.49. The business’s 50-day moving average is $338.69 and its two-hundred day moving average is $322.04. 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 $143.72 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 2.85 and a beta of 1.01.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the company posted $2.47 EPS. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 40.00%.

Insider Buying and Selling

In other news, insider Michael Yelton sold 3,136 shares of the firm’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 completion of the sale, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. This trade represents a 44.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 68,705 shares of company stock valued at $24,516,346 in the last quarter. Company insiders own 0.33% of the company’s stock.

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.