Moors & Cabot Inc. Sells 1,488 Shares of Eaton Co. plc (NYSE:ETN)

Moors & Cabot Inc. lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,234 shares of the industrial products company’s stock after selling 1,488 shares during the period. Eaton makes up about 0.8% of Moors & Cabot Inc.’s portfolio, making the stock its 23rd largest holding. Moors & Cabot Inc.’s holdings in Eaton were worth $14,183,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Gryphon Financial Partners LLC boosted its holdings in shares of Eaton by 81.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 1,053 shares in the last quarter. Great Lakes Advisors LLC grew its position in Eaton by 24.8% in the fourth quarter. Great Lakes Advisors LLC now owns 2,176 shares of the industrial products company’s stock valued at $524,000 after acquiring an additional 432 shares during the last quarter. Financial Advocates Investment Management raised its stake in Eaton by 1.8% during the fourth quarter. Financial Advocates Investment Management now owns 2,499 shares of the industrial products company’s stock worth $602,000 after acquiring an additional 45 shares in the last quarter. Motco lifted its holdings in shares of Eaton by 8.5% in the fourth quarter. Motco now owns 1,213 shares of the industrial products company’s stock worth $292,000 after acquiring an additional 95 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC grew its holdings in shares of Eaton by 32.7% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 2,047 shares of the industrial products company’s stock valued at $493,000 after purchasing an additional 505 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on ETN shares. Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Jefferies Financial Group boosted their price objective on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Raymond James lowered their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Barclays boosted their price target on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, Evercore ISI dropped their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $337.41.

Eaton Price Performance

Shares of NYSE ETN opened at $306.55 on Tuesday. The company has a market capitalization of $122.56 billion, a PE ratio of 36.19, a P/E/G ratio of 2.28 and a beta of 1.01. 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 twelve month low of $191.82 and a twelve month high of $345.19. The firm has a fifty day simple moving average of $300.31 and a 200 day simple moving average of $311.96.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share 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 firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. On average, sell-side analysts forecast that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.23%. Eaton’s dividend payout ratio is currently 44.39%.

Insider Activity at Eaton

In other Eaton news, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Michael Yelton sold 3,136 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the transaction, the insider now owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’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 directly owns 9,900 shares in the company, valued at $2,858,328. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 in the last quarter. Company insiders own 0.53% of the company’s stock.

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.