Eaton Co. plc (NYSE:ETN) Holdings Trimmed by InTrack Investment Management Inc

InTrack Investment Management Inc lowered its holdings in Eaton Co. plc (NYSE:ETNFree Report) by 53.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,084 shares of the industrial products company’s stock after selling 2,396 shares during the period. InTrack Investment Management Inc’s holdings in Eaton were worth $444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Trust Co purchased a new position in Eaton during the 3rd quarter valued at about $209,000. Trust Co. of Toledo NA OH increased its stake in Eaton by 7.8% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 14,692 shares of the industrial products company’s stock valued at $3,134,000 after buying an additional 1,067 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in Eaton by 14.4% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 13,122 shares of the industrial products company’s stock worth $2,799,000 after buying an additional 1,652 shares in the last quarter. KRS Capital Management LLC boosted its stake in shares of Eaton by 14.0% during the 3rd quarter. KRS Capital Management LLC now owns 2,766 shares of the industrial products company’s stock valued at $590,000 after buying an additional 340 shares during the period. Finally, Sterling Investment Counsel LLC grew its holdings in shares of Eaton by 13.0% during the 3rd quarter. Sterling Investment Counsel LLC now owns 2,290 shares of the industrial products company’s stock valued at $488,000 after acquiring an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 81.02% of the company’s stock.

Analyst Ratings Changes

ETN has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on Eaton from $215.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 1st. StockNews.com started coverage on Eaton in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Morgan Stanley lifted their target price on shares of Eaton from $235.00 to $238.00 and gave the company an “overweight” rating in a research note on Monday, September 25th. JPMorgan Chase & Co. upgraded shares of Eaton from a “neutral” rating to an “overweight” rating and set a $230.00 price target on the stock in a research note on Friday, October 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $222.85.

Read Our Latest Stock Analysis on Eaton

Insider Activity at Eaton

In other news, insider Sternadt Paulo Ruiz sold 2,639 shares of Eaton stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $228.05, for a total transaction of $601,823.95. Following the sale, the insider now owns 11,636 shares of the company’s stock, valued at approximately $2,653,589.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Performance

NYSE:ETN traded down $0.06 during mid-day trading on Friday, hitting $240.69. 301,479 shares of the company’s stock traded hands, compared to its average volume of 2,000,719. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $223.93 and a two-hundred day moving average of $215.78. The firm has a market capitalization of $96.11 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 2.32 and a beta of 1.06. Eaton Co. plc has a 12 month low of $150.86 and a 12 month high of $241.97.

Eaton (NYSE:ETNGet Free Report) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.13. The company had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.89 billion. Eaton had a return on equity of 19.49% and a net margin of 13.24%. Eaton’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 9.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Monday, November 6th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, November 3rd. Eaton’s dividend payout ratio (DPR) is presently 46.05%.

About Eaton

(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.

See Also

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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