Burns Matteson Capital Management LLC Sells 79 Shares of Eaton Co. plc (NYSE:ETN)

Burns Matteson Capital Management LLC lessened its holdings in Eaton Co. plc (NYSE:ETN) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,594 shares of the industrial products company’s stock after selling 79 shares during the quarter. Burns Matteson Capital Management LLC’s holdings in Eaton were worth $860,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ETN. Wealthquest Corp bought a new position in Eaton during the 4th quarter worth approximately $208,000. CMG Global Holdings LLC bought a new position in Eaton during the 4th quarter worth approximately $197,000. Winslow Asset Management Inc. raised its holdings in Eaton by 0.3% during the 4th quarter. Winslow Asset Management Inc. now owns 29,960 shares of the industrial products company’s stock worth $7,215,000 after purchasing an additional 100 shares during the last quarter. Voisard Asset Management Group Inc. bought a new position in Eaton during the 4th quarter worth approximately $105,000. Finally, GLOBALT Investments LLC GA bought a new position in Eaton during the 4th quarter worth approximately $7,863,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

ETN has been the subject of several analyst reports. Royal Bank of Canada lowered their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Barclays raised their price objective on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Morgan Stanley began coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Evercore ISI reduced their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Wells Fargo & Company raised their price objective on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $339.47.

Insiders Place Their Bets

In other news, insider Heath B. Monesmith sold 49,040 shares of Eaton 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 in the company, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Heath B. Monesmith sold 49,040 shares of Eaton 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 in the company, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 in the last three months. 0.53% of the stock is currently owned by insiders.

Eaton Stock Up 1.3 %

ETN traded up $4.45 during mid-day trading on Friday, reaching $341.39. 1,162,053 shares of the stock were exchanged, compared to its average volume of 2,135,704. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The stock has a market capitalization of $135.91 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The company has a 50 day moving average price of $307.72 and a two-hundred day moving average price of $315.57. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19.

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

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is 41.36%.

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.