Eaton Co. plc (NYSE:ETN) Shares Sold by Alerus Financial NA

Alerus Financial NA lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.6% in the third quarter, HoldingsChannel reports. The firm owned 54,070 shares of the industrial products company’s stock after selling 2,610 shares during the quarter. Eaton makes up approximately 1.3% of Alerus Financial NA’s holdings, making the stock its 16th largest holding. Alerus Financial NA’s holdings in Eaton were worth $17,921,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Breakwater Investment Management grew its holdings in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. bought a new position in shares of Eaton in the second quarter worth $29,000. LGT Financial Advisors LLC acquired a new position in shares of Eaton during the second quarter valued at $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton during the third quarter valued at about $35,000. Finally, DT Investment Partners LLC acquired a new stake in Eaton in the third quarter worth about $37,000. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,981 shares of company stock worth $24,100,317 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. Citigroup began coverage on Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, UBS Group started coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $357.83.

Eaton Price Performance

Shares of NYSE:ETN opened at $375.42 on Friday. The company’s fifty day moving average is $348.37 and its two-hundred day moving average is $324.50. The company has a market cap of $148.37 billion, a P/E ratio of 39.94, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01. Eaton Co. plc has a 12-month low of $224.61 and a 12-month high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (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 firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the business earned $2.47 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.00%. Eaton’s dividend payout ratio is presently 40.00%.

Eaton 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.