Westhampton Capital LLC Trims Stock Position in Eaton Co. plc (NYSE:ETN)

Westhampton Capital LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 0.3% in the third quarter, Holdings Channel reports. The fund owned 25,152 shares of the industrial products company’s stock after selling 65 shares during the quarter. Eaton makes up about 4.2% of Westhampton Capital LLC’s portfolio, making the stock its 2nd biggest position. Westhampton Capital LLC’s holdings in Eaton were worth $8,336,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Breakwater Investment Management increased its holdings 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 buying an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new position in Eaton in the second quarter worth about $29,000. Redmont Wealth Advisors LLC bought a new stake in Eaton during the first quarter worth approximately $33,000. LGT Financial Advisors LLC purchased a new stake in Eaton during the second quarter valued at approximately $33,000. Finally, West Financial Advisors LLC purchased a new position in shares of Eaton in the 3rd quarter worth approximately $35,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 over the last 90 days. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of NYSE:ETN opened at $343.55 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $137.35 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The firm has a 50 day moving average of $316.15 and a 200 day moving average of $316.93. Eaton Co. plc has a 52 week low of $193.26 and a 52 week high of $349.74.

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

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ETN shares. Jefferies Financial Group increased their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Royal Bank of Canada decreased their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company 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. Evercore ISI decreased their price target 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, Morgan Stanley started coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

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.