Haverford Trust Co Reduces Stock Position in Eaton Co. plc (NYSE:ETN)

Haverford Trust Co lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 0.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 382,868 shares of the industrial products company’s stock after selling 78 shares during the quarter. Eaton accounts for 1.2% of Haverford Trust Co’s portfolio, making the stock its 28th biggest holding. Haverford Trust Co owned about 0.10% of Eaton worth $126,898,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Breakwater Investment Management raised its position in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares in the last quarter. Proffitt & Goodson Inc. bought a new position in shares of Eaton in the 2nd quarter worth $29,000. LGT Financial Advisors LLC bought a new position in shares of Eaton in the 2nd quarter worth $33,000. West Financial Advisors LLC bought a new position in shares of Eaton in the 3rd quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in shares of Eaton in the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 61,569 shares of the firm’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 completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 transaction of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. 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 Craig Arnold sold 61,569 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 117,745 shares of company stock valued at $39,278,367 over the last quarter. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Citigroup assumed coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Barclays reduced their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock 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. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Morgan Stanley started coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $346.39.

Eaton Price Performance

Shares of Eaton stock opened at $369.05 on Wednesday. The business has a 50 day simple moving average of $329.60 and a two-hundred day simple moving average of $320.18. Eaton Co. plc has a 12 month low of $220.24 and a 12 month high of $373.49. The stock has a market capitalization of $145.85 billion, a P/E ratio of 39.26, a PEG ratio of 2.98 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last posted its quarterly earnings results 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 analysts’ expectations of $6.37 billion. During the same quarter last year, the firm earned $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, analysts predict that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.02%. Eaton’s dividend payout ratio (DPR) is 40.00%.

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.