Graypoint LLC Sells 76 Shares of Eaton Co. plc (NYSE:ETN)

Graypoint LLC lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,809 shares of the industrial products company’s stock after selling 76 shares during the period. Graypoint LLC’s holdings in Eaton were worth $1,925,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Breakwater Investment Management lifted its stake in shares of Eaton by 1,560.0% in the second 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 approximately $29,000. LGT Financial Advisors LLC bought a new position in shares of Eaton in the second quarter worth approximately $33,000. West Financial Advisors LLC bought a new position in shares of Eaton in the third quarter worth approximately $35,000. Finally, DT Investment Partners LLC bought a new position in shares of Eaton in the third quarter worth approximately $37,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the company’s 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 of the company’s stock, valued at approximately $182,780,769.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,080 shares of company stock worth $39,375,088. 0.33% of the stock is owned by insiders.

Eaton Stock Performance

Shares of NYSE ETN opened at $360.58 on Friday. The firm has a fifty day moving average price of $325.92 and a 200-day moving average price of $319.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The stock has a market cap of $142.50 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 2.66 and a beta of 1.01. Eaton Co. plc has a 1 year low of $215.64 and a 1 year high of $366.08.

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 analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.47 earnings per share. Equities analysts anticipate that Eaton Co. plc will post 10.79 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. Investors of record on Monday, November 4th will be given 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 dividend yield of 1.04%. Eaton’s dividend payout ratio is 40.00%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ETN shares. Mizuho upped their target price 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. Jefferies Financial Group boosted 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. Evercore ISI decreased their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Morgan Stanley began coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $374.00 price objective on shares of Eaton in a report on Friday, November 1st. 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, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $343.28.

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.