Grimes & Company Inc. Purchases 151 Shares of Eaton Co. plc (NYSE:ETN)

Grimes & Company Inc. increased its position in Eaton Co. plc (NYSE:ETN) by 0.4% in the 3rd quarter, Holdings Channel reports. The firm owned 38,886 shares of the industrial products company’s stock after buying an additional 151 shares during the quarter. Grimes & Company Inc.’s holdings in Eaton were worth $12,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greystone Financial Group LLC bought a new position in shares of Eaton during the third quarter valued at $547,000. Beese Fulmer Investment Management Inc. lifted its holdings in shares of Eaton by 5.3% during the third quarter. Beese Fulmer Investment Management Inc. now owns 39,961 shares of the industrial products company’s stock valued at $13,245,000 after acquiring an additional 2,018 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Eaton by 11.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,351 shares of the industrial products company’s stock valued at $1,111,000 after acquiring an additional 332 shares during the period. Romano Brothers AND Company increased its position in Eaton by 2.6% in the third quarter. Romano Brothers AND Company now owns 16,380 shares of the industrial products company’s stock worth $5,429,000 after purchasing an additional 422 shares during the period. Finally, YHB Investment Advisors Inc. increased its position in Eaton by 18.8% in the third quarter. YHB Investment Advisors Inc. now owns 14,859 shares of the industrial products company’s stock worth $4,925,000 after purchasing an additional 2,351 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction that occurred 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,511 shares of company stock valued at $15,809,326. Company insiders own 0.53% of the company’s stock.

Eaton Trading Down 0.8 %

Eaton stock traded down $2.81 during trading hours on Thursday, hitting $342.15. The stock had a trading volume of 49,376 shares, compared to its average volume of 2,095,258. 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 stock has a market cap of $136.79 billion, a price-to-earnings ratio of 40.73, a P/E/G ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a one year low of $193.77 and a one year high of $349.74. The business’s 50 day simple moving average is $317.08 and its 200-day simple moving average is $317.12.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating 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 firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, equities analysts predict that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Analyst Ratings Changes

A number of brokerages recently commented on ETN. Raymond James lowered their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Morgan Stanley assumed coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Evercore ISI decreased their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Royal Bank of Canada decreased their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Citigroup began coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

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.