Carr Financial Group Corp Trims Stake in Eaton Co. plc (NYSE:ETN)

Carr Financial Group Corp trimmed its position in Eaton Co. plc (NYSE:ETN) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,769 shares of the industrial products company’s stock after selling 144 shares during the quarter. Carr Financial Group Corp’s holdings in Eaton were worth $586,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Breakwater Investment Management grew its holdings 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 in the last quarter. Proffitt & Goodson Inc. purchased a new stake in shares of Eaton in the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC bought a new position in shares of Eaton during the second quarter valued at approximately $33,000. West Financial Advisors LLC bought a new position in Eaton in the third quarter worth approximately $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in Eaton during the second quarter worth $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, for a total transaction 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. Insiders sold a total of 118,080 shares of company stock worth $39,375,088 in the last three months. Company insiders own 0.53% of the company’s stock.

Eaton Stock Up 1.7 %

ETN stock opened at $366.67 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm’s fifty day simple moving average is $328.30 and its 200-day simple moving average is $319.74. Eaton Co. plc has a 12 month low of $217.61 and a 12 month high of $369.29. The company has a market capitalization of $144.91 billion, a P/E ratio of 39.01, a price-to-earnings-growth ratio of 2.88 and a beta of 1.01.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during 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%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $2.47 EPS. As a group, equities research analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 40.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Barclays reduced their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Citigroup assumed coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $343.28.

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.