Mount Yale Investment Advisors LLC Decreases Stake in Eaton Co. plc (NYSE:ETN)

Mount Yale Investment Advisors LLC lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 64.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,807 shares of the industrial products company’s stock after selling 3,332 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Eaton were worth $566,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. LifeSteps Financial Inc. purchased a new position in Eaton in the 1st quarter valued at approximately $25,000. Breakwater Investment Management grew its position in Eaton by 1,560.0% during 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 during the last quarter. Atwood & Palmer Inc. raised its holdings in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after buying an additional 50 shares during the last quarter. Clear Investment Research LLC bought a new position in shares of Eaton during the fourth quarter valued at about $29,000. Finally, Proffitt & Goodson Inc. purchased a new stake in Eaton in the 2nd quarter worth approximately $29,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated 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 transaction, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 in the last three months. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ETN shares. Barclays increased their target price on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Evercore ISI reduced their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Raymond James lowered their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Royal Bank of Canada reduced their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $337.41.

Eaton Stock Down 0.3 %

NYSE:ETN opened at $329.69 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The stock has a market capitalization of $131.81 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The stock’s fifty day moving average is $299.99 and its two-hundred day moving average is $312.91.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Research analysts anticipate that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is presently 44.39%.

Eaton 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.