NorthRock Partners LLC Sells 746 Shares of Eaton Co. plc (NYSE:ETN)

NorthRock Partners LLC trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 30.6% in the third quarter, Holdings Channel reports. The fund 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 (SEC).

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

Eaton Trading Up 2.0 %

Shares of ETN stock opened at $337.59 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $133.42 billion, a P/E ratio of 35.91, a P/E/G ratio of 2.55 and a beta of 1.01. Eaton Co. plc has a 12-month low of $211.99 and a 12-month high of $349.74. The firm has a 50-day moving average price of $324.60 and a 200 day moving average price of $318.76.

Eaton (NYSE:ETN) last announced its 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 business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business earned $2.47 EPS. Eaton’s revenue was up 7.9% compared to the same quarter last year. Research analysts forecast that Eaton Co. plc will post 10.78 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders 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 1.11%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Analysts Set New Price Targets

ETN has been the topic of several research analyst reports. Evercore ISI decreased their price target 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. Morgan Stanley started coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Sanford C. Bernstein initiated coverage on Eaton in a research report on Tuesday. They issued an “outperform” rating and a $382.00 price objective for the company. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Jefferies Financial Group raised their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $343.28.

Insider Buying and Selling at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Karenann K. Terrell acquired 500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at $149,485. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,511 shares of company stock worth $17,150,526. 0.33% of the stock is currently owned by corporate 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.