Northstar Asset Management Inc. Sells 309 Shares of Eaton Co. plc (NYSE:ETN)

by · The Cerbat Gem

Northstar Asset Management Inc. lessened its holdings in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,343 shares of the industrial products company’s stock after selling 309 shares during the period. Eaton comprises approximately 3.0% of Northstar Asset Management Inc.’s holdings, making the stock its 13th largest holding. Northstar Asset Management Inc.’s holdings in Eaton were worth $12,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geneos Wealth Management Inc. boosted its holdings in shares of Eaton by 10.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,862 shares of the industrial products company’s stock worth $582,000 after buying an additional 172 shares during the last quarter. W.H. Cornerstone Investments Inc. purchased a new stake in shares of Eaton during the 1st quarter valued at about $349,000. Manchester Capital Management LLC lifted its stake in Eaton by 2.3% in the first quarter. Manchester Capital Management LLC now owns 2,937 shares of the industrial products company’s stock worth $918,000 after purchasing an additional 66 shares during the last quarter. VitalStone Financial LLC purchased a new stake in shares of Eaton during the first quarter valued at $354,000. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Eaton by 19.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after acquiring an additional 12,689 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s 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 transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. 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 quarter, insiders sold 56,511 shares of company stock valued at $17,150,526. 0.33% of the stock is currently owned by company insiders.

Eaton Price Performance

ETN stock opened at $337.59 on Wednesday. The firm has a market cap of $133.42 billion, a P/E ratio of 35.91, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. 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 1 year low of $211.99 and a 1 year high of $349.74. The stock has a 50-day simple moving average of $324.60 and a 200-day simple moving average of $318.76.

Eaton (NYSE:ETN – Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates 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 in the prior year, the company posted $2.47 EPS. On average, equities analysts predict that Eaton Co. plc will post 10.78 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. 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 payout ratio is 40.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ETN shares. 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 report on Thursday, July 11th. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Citigroup began coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Barclays decreased their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $343.28.

View Our Latest Analysis on ETN

Eaton Profile

(Free Report)

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.

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