Eaton Co. plc (NYSE:ETN) Shares Sold by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management cut its holdings in Eaton Co. plc (NYSE:ETN) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 641 shares of the industrial products company’s stock after selling 34 shares during the period. Keudell Morrison Wealth Management’s holdings in Eaton were worth $212,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Eaton by 22.6% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 8,714 shares of the industrial products company’s stock valued at $2,888,000 after purchasing an additional 1,604 shares during the last quarter. Castle Wealth Management LLC acquired a new position in Eaton in the third quarter valued at $991,000. Principal Financial Group Inc. grew its position in Eaton by 4.1% during the third quarter. Principal Financial Group Inc. now owns 457,350 shares of the industrial products company’s stock valued at $151,584,000 after acquiring an additional 17,965 shares during the period. Jackson Square Capital LLC increased its stake in Eaton by 427.5% during the third quarter. Jackson Square Capital LLC now owns 21,190 shares of the industrial products company’s stock worth $7,023,000 after acquiring an additional 17,173 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC purchased a new position in shares of Eaton in the 3rd quarter worth about $241,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ETN. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday. They issued an “outperform” rating and a $382.00 price target on the stock. Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. Raymond James cut their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Mizuho upped their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $343.28.

Insider Activity

In other Eaton news, insider Craig Arnold sold 61,569 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s 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 completion of the sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. This represents 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 118,080 shares of company stock valued at $39,375,088. 0.33% of the stock is currently owned by insiders.

Eaton Trading Up 0.4 %

NYSE:ETN opened at $360.58 on Friday. Eaton Co. plc has a 52 week low of $215.64 and a 52 week high of $366.08. 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 cap of $142.50 billion, a PE ratio of 38.36, a P/E/G ratio of 2.66 and a beta of 1.01. The business’s 50 day moving average is $325.92 and its two-hundred day moving average is $319.05.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 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 firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the company posted $2.47 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued 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 1.04%. Eaton’s dividend payout ratio is currently 40.00%.

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.