Harbour Trust & Investment Management Co Sells 82 Shares of Eaton Co. plc (NYSE:ETN)

Harbour Trust & Investment Management Co lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,900 shares of the industrial products company’s stock after selling 82 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Eaton were worth $630,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ETN. Brookstone Capital Management boosted its position in shares of Eaton by 15.5% during the 1st quarter. Brookstone Capital Management now owns 1,375 shares of the industrial products company’s stock valued at $430,000 after acquiring an additional 185 shares during the last quarter. Sovereign Financial Group Inc. purchased a new stake in Eaton in the first quarter worth approximately $263,000. Wealthcare Advisory Partners LLC boosted its stake in Eaton by 19.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,803 shares of the industrial products company’s stock worth $1,189,000 after buying an additional 614 shares in the last quarter. Hengehold Capital Management LLC purchased a new stake in Eaton in the first quarter worth approximately $203,000. Finally, Capital Asset Advisory Services LLC purchased a new stake in Eaton in the first quarter worth approximately $215,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on ETN shares. Evercore ISI cut their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Mizuho increased their price objective on Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada dropped their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Citigroup initiated coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Finally, Morgan Stanley initiated coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $340.06.

Eaton Price Performance

Shares of NYSE:ETN opened at $345.17 on Friday. Eaton Co. plc has a 1-year low of $193.77 and a 1-year high of $349.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The business has a fifty day moving average price of $317.08 and a 200-day moving average price of $317.12. The company has a market capitalization of $138.00 billion, a PE ratio of 40.75, a PEG ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. As a group, equities analysts expect that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Activity at Eaton

In related news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction 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 sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 over the last ninety days. Insiders own 0.53% of the company’s stock.

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.