Northstar Asset Management Inc. Has $12.38 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Northstar Asset Management Inc. reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 0.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 37,343 shares of the industrial products company’s stock after selling 309 shares during the period. Eaton accounts for about 3.0% of Northstar Asset Management Inc.’s investment portfolio, making the stock its 13th largest holding. Northstar Asset Management Inc.’s holdings in Eaton were worth $12,377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Strategic Wealth Partners Ltd. lifted its stake in Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after buying an additional 30 shares during the period. Fairfield Financial Advisors LTD grew its holdings in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after buying an additional 30 shares during the period. Legacy Capital Group California Inc. grew its stake in Eaton by 1.2% in 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 acquiring an additional 32 shares during the period. Well Done LLC increased its holdings in shares of Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after acquiring an additional 33 shares in the last quarter. Finally, Austin Private Wealth LLC raised its position in shares of Eaton by 3.7% during the third quarter. Austin Private Wealth LLC now owns 929 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 33 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Mizuho increased their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a research report on Friday, November 1st. Evercore ISI cut their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Citigroup started coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $343.28.

Eaton Trading Up 2.0 %

NYSE:ETN opened at $337.59 on Wednesday. The stock has a market capitalization of $133.42 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 2.55 and a beta of 1.01. The firm has a fifty day simple moving average of $324.60 and a two-hundred day simple moving average of $318.76. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12 month low of $211.99 and a 12 month high of $349.74.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm earned $2.47 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts expect that Eaton Co. plc will post 10.78 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.11%. Eaton’s dividend payout ratio is presently 40.00%.

Insider Transactions at Eaton

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The shares were 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 of the company’s stock, valued at $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The stock was 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 of the company’s stock, valued at $2,858,328. 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 Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,511 shares of company stock worth $17,150,526. 0.33% of the stock is currently owned by insiders.

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.