Braun Stacey Associates Inc. Has $16.94 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Braun Stacey Associates Inc. cut its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,103 shares of the industrial products company's stock after selling 3,925 shares during the quarter. Braun Stacey Associates Inc.'s holdings in Eaton were worth $16,938,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Breakwater Investment Management raised its stake 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 worth $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton during the 2nd quarter worth $29,000. LGT Financial Advisors LLC bought a new position in Eaton in the 2nd quarter valued at $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton in the 3rd quarter valued at $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of Eaton during the second quarter worth $37,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Down 0.6 %

Eaton stock traded down $2.14 during midday trading on Monday, reaching $356.85. The stock had a trading volume of 898,564 shares, compared to its average volume of 2,107,323. The stock has a market capitalization of $141.03 billion, a P/E ratio of 38.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.01. The firm's fifty day simple moving average is $335.82 and its 200-day simple moving average is $321.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 1-year low of $224.52 and a 1-year high of $373.49.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.47 earnings per share. As a group, analysts expect that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, November 4th. Eaton's dividend payout ratio is currently 40.00%.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 61,569 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company's stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Karenann K. Terrell acquired 500 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now owns 500 shares in the company, valued at approximately $149,485. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 68,705 shares of company stock worth $24,516,346. Corporate insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ETN shares. Wells Fargo & Company raised their price target on Eaton from $315.00 to $342.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an "outperform" rating and a $382.00 price target for the company. Evercore ISI lowered shares of Eaton from an "outperform" rating to an "inline" rating and increased their price objective for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Mizuho lifted their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Barclays dropped their target price on shares of Eaton from $327.00 to $320.00 and set an "equal weight" rating for the company in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $357.83.

Eaton Company 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.