Saturna Capital Corp Sells 551 Shares of Eaton Co. plc (NYSE:ETN)

Saturna Capital Corp cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 0.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 133,526 shares of the industrial products company’s stock after selling 551 shares during the period. Saturna Capital Corp’s holdings in Eaton were worth $44,256,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Strategic Wealth Partners Ltd. boosted its position in Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD lifted its stake in shares of Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 30 shares during the last quarter. Legacy Capital Group California Inc. boosted its position in Eaton by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after purchasing an additional 32 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Eaton by 2.1% in the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 32 shares in the last quarter. Finally, Well Done LLC boosted its holdings in shares of Eaton by 1.3% in the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after buying an additional 33 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Craig Arnold sold 61,569 shares of the company’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 of the company’s stock, valued at $182,780,769.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Eaton news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,745 shares of company stock worth $39,278,367 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Eaton Price Performance

Shares of ETN opened at $371.03 on Wednesday. The company has a market capitalization of $146.63 billion, a P/E ratio of 39.26, a P/E/G ratio of 2.98 and a beta of 1.01. The business’s 50-day moving average is $331.19 and its two-hundred day moving average is $320.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a fifty-two week low of $223.87 and a fifty-two week high of $373.49.

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

Eaton Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is currently 40.00%.

Analysts Set New Price Targets

Several research firms recently commented on ETN. Sanford C. Bernstein started coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective for the company. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday. Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Morgan Stanley assumed 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. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $346.39.

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.