Harbour Trust & Investment Management Co Reduces Stock Holdings in Eaton Co. plc (NYSE:ETN)

Harbour Trust & Investment Management Co trimmed its position in Eaton Co. plc (NYSE:ETN) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,900 shares of the industrial products company’s stock after selling 82 shares during the period. Harbour Trust & Investment Management Co’s holdings in Eaton were worth $630,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ETN. Mount Yale Investment Advisors LLC boosted its position in shares of Eaton by 63.4% in the third quarter. Mount Yale Investment Advisors LLC now owns 2,953 shares of the industrial products company’s stock worth $979,000 after purchasing an additional 1,146 shares during the period. Dakota Wealth Management increased its stake in Eaton by 147.8% in the 3rd quarter. Dakota Wealth Management now owns 45,425 shares of the industrial products company’s stock worth $15,056,000 after buying an additional 27,094 shares in the last quarter. DT Investment Partners LLC bought a new stake in Eaton during the third quarter valued at about $37,000. American Institute for Advanced Investment Management LLP lifted its position in shares of Eaton by 45.8% in the third quarter. American Institute for Advanced Investment Management LLP now owns 1,352 shares of the industrial products company’s stock valued at $448,000 after acquiring an additional 425 shares in the last quarter. Finally, Jackson Wealth Management LLC boosted its stake in shares of Eaton by 73.8% in the third quarter. Jackson Wealth Management LLC now owns 27,781 shares of the industrial products company’s stock worth $9,208,000 after acquiring an additional 11,794 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ETN has been the subject of several recent analyst reports. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Evercore ISI reduced their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Royal Bank of Canada reduced their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Jefferies Financial Group lifted their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Barclays lifted their price objective on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $340.06.

Eaton Stock Up 0.1 %

NYSE ETN opened at $345.17 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $317.08 and a two-hundred day moving average of $317.12. The firm has a market capitalization of $138.00 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a 52 week low of $193.77 and a 52 week high of $349.74.

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

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is currently 44.39%.

Insider Activity

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated 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 directly owns 9,900 shares in the company, valued at $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by company insiders.

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.