Crossmark Global Holdings Inc. Reduces Stock Position in Eaton Co. plc (NYSE:ETN)

Crossmark Global Holdings Inc. decreased its holdings in Eaton Co. plc (NYSE:ETN) by 4.9% during the third quarter, HoldingsChannel.com reports. The firm owned 16,189 shares of the industrial products company’s stock after selling 828 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Eaton were worth $5,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ETN. Breakwater Investment Management grew its stake in 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 purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. bought a new position in shares of Eaton during the 2nd quarter worth $29,000. LGT Financial Advisors LLC purchased a new position in shares of Eaton during the second quarter valued at $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton in the third quarter valued at about $35,000. Finally, DT Investment Partners LLC purchased a new stake in Eaton in the third quarter worth about $37,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Price Performance

Shares of ETN opened at $371.95 on Tuesday. 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 company’s fifty day moving average price is $328.30 and its 200-day moving average price is $319.80. Eaton Co. plc has a 1-year low of $220.24 and a 1-year high of $373.39. The firm has a market capitalization of $146.99 billion, a PE ratio of 39.57, a price-to-earnings-growth ratio of 2.94 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share 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 business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the business earned $2.47 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 117,745 shares of company stock worth $39,278,367 over the last 90 days. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley started coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Mizuho lifted their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Evercore ISI decreased their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.