Eaton Co. plc (NYSE:ETN) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its holdings in Eaton Co. plc (NYSE:ETN) by 3.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,676 shares of the industrial products company’s stock after selling 778 shares during the period. Kingsview Wealth Management LLC’s holdings in Eaton were worth $7,184,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Breakwater Investment Management lifted its holdings in Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton in the second quarter valued at approximately $29,000. LGT Financial Advisors LLC acquired a new position in Eaton during the second quarter worth $33,000. West Financial Advisors LLC acquired a new position in Eaton during the third quarter worth $35,000. Finally, DT Investment Partners LLC acquired a new position in Eaton during the third quarter worth $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In other Eaton news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. This represents a 44.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 68,705 shares of company stock worth $24,516,346 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays decreased their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company upped their price target on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average price target of $357.83.

Eaton Stock Performance

NYSE:ETN opened at $377.41 on Friday. The firm has a market capitalization of $149.15 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 2.94 and a beta of 1.01. The business’s fifty day moving average price is $342.75 and its 200 day moving average price is $322.97. 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 Co. plc has a 12 month low of $224.52 and a 12 month high of $378.00.

Eaton (NYSE:ETN) last posted its 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. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 earnings per share. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.00%. Eaton’s dividend payout ratio is presently 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.