NBC Securities Inc. Cuts Position in Eaton Co. plc (NYSE:ETN)

NBC Securities Inc. decreased its holdings in Eaton Co. plc (NYSE:ETN) by 28.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,398 shares of the industrial products company’s stock after selling 563 shares during the quarter. NBC Securities Inc.’s holdings in Eaton were worth $463,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ETN. Breakwater Investment Management increased its position in shares of 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 buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. purchased a new stake in Eaton during the 2nd quarter worth about $29,000. LGT Financial Advisors LLC purchased a new stake in Eaton during the 2nd quarter worth about $33,000. Redmont Wealth Advisors LLC purchased a new stake in Eaton during the 1st quarter worth about $33,000. Finally, West Financial Advisors LLC purchased a new stake in Eaton during the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Heath B. Monesmith sold 49,040 shares of the business’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 completion of the transaction, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ETN has been the subject of a number of recent research reports. Mizuho lifted their price objective on Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada decreased their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Jefferies Financial Group raised their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Morgan Stanley initiated coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $340.06.

Eaton Stock Performance

Shares of NYSE:ETN opened at $348.33 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a one year low of $191.82 and a one year high of $349.74. The business’s 50-day simple moving average is $312.88 and its 200 day simple moving average is $316.41. The company has a market cap of $139.26 billion, a P/E ratio of 41.13, a PEG ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. On average, sell-side analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. Eaton’s dividend payout ratio (DPR) is 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.