Eaton Co. plc (NYSE:ETN) Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,900 shares of the industrial products company’s stock after selling 100 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Eaton were worth $630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ETN. Brookstone Capital Management grew its position in shares of Eaton by 15.5% during the first quarter. Brookstone Capital Management now owns 1,375 shares of the industrial products company’s stock worth $430,000 after buying an additional 185 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Eaton by 36.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 384 shares during the last quarter. LVW Advisors LLC acquired a new stake in shares of Eaton in the 1st quarter valued at about $428,000. Miracle Mile Advisors LLC increased its holdings in Eaton by 20.1% in the first quarter. Miracle Mile Advisors LLC now owns 4,333 shares of the industrial products company’s stock valued at $1,355,000 after buying an additional 726 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Eaton in the first quarter valued at about $92,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ETN. Barclays lifted their target price on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Raymond James lowered their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Jefferies Financial Group increased their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Royal Bank of Canada decreased their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Evercore ISI dropped their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Eaton Stock Performance

Eaton stock traded up $2.50 during mid-day trading on Monday, hitting $346.99. 636,953 shares of the company’s stock traded hands, compared to its average volume of 2,090,355. Eaton Co. plc has a one year low of $196.12 and a one year high of $349.74. The company has a market cap of $138.14 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The firm has a 50 day moving average price of $318.89 and a 200 day moving average price of $317.49. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, equities analysts forecast that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. Eaton’s dividend payout ratio is presently 41.36%.

Insider Buying and Selling

In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on 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 owns 9,900 shares of the company’s stock, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Karenann K. Terrell bought 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last quarter. Corporate insiders own 0.53% of the company’s stock.

About Eaton

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.