Braun Stacey Associates Inc. Reduces Holdings in Eaton Co. plc (NYSE:ETN)

Braun Stacey Associates Inc. decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 7.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 51,103 shares of the industrial products company’s stock after selling 3,925 shares during the period. Braun Stacey Associates Inc.’s holdings in Eaton were worth $16,938,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Strategic Wealth Partners Ltd. grew its stake in shares of Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD grew its stake in shares of Eaton by 16.2% during the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 30 shares during the last quarter. Legacy Capital Group California Inc. boosted its position 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 buying an additional 32 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Eaton by 2.1% in the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after buying an additional 32 shares during the last quarter. Finally, Well Done LLC boosted its position in Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 0.8 %

NYSE ETN opened at $358.99 on Monday. The business has a fifty day moving average price of $335.82 and a 200 day moving average price of $321.44. Eaton Co. plc has a one year low of $224.52 and a one year high of $373.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a market cap of $141.87 billion, a P/E ratio of 38.19, a P/E/G ratio of 2.85 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the company earned $2.47 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Research analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Morgan Stanley assumed coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research report on Friday, November 1st. Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This trade represents a 44.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karenann K. Terrell acquired 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at approximately $149,485. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 68,705 shares of company stock valued at $24,516,346 in the last three months. 0.53% of the stock is currently owned by insiders.

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.