Pathstone Holdings LLC Sells 1,944 Shares of Eaton Co. plc (NYSE:ETN)

Pathstone Holdings LLC lowered its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 3.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,881 shares of the industrial products company's stock after selling 1,944 shares during the quarter. Pathstone Holdings LLC's holdings in Eaton were worth $20,178,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ETN. Breakwater Investment Management boosted its position 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 valued at $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. acquired a new position in shares of Eaton during the 2nd quarter valued at about $29,000. LGT Financial Advisors LLC purchased a new stake in shares of Eaton during the 2nd quarter worth about $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton in the third quarter valued at about $35,000. Finally, DT Investment Partners LLC acquired a new position in shares of Eaton in the third quarter worth about $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Down 0.9 %

Shares of NYSE ETN traded down $3.23 during mid-day trading on Wednesday, reaching $360.46. The company had a trading volume of 1,291,740 shares, compared to its average volume of 2,106,570. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a market cap of $142.45 billion, a P/E ratio of 38.44, a PEG ratio of 2.85 and a beta of 1.01. Eaton Co. plc has a 52-week low of $224.52 and a 52-week high of $373.49. The firm has a 50 day simple moving average of $338.69 and a two-hundred day simple moving average of $322.04.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.47 earnings per share. Sell-side analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The business 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. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.04%. Eaton's dividend payout ratio is presently 40.00%.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now owns 51,422 shares of the company's stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the business'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 completion of the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,705 shares of company stock valued at $24,516,346 over the last three months. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 target price for the company. Wells Fargo & Company raised their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Citigroup initiated coverage on Eaton in a research report on Monday, September 16th. They set a "buy" rating and a $348.00 price target on the stock. Raymond James reduced their price objective on shares of Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a research note on Monday, September 9th. Finally, UBS Group started coverage on Eaton in a research note on Wednesday, November 13th. They set a "buy" rating and a $431.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $357.83.

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.