National Bank of Canada FI Reduces Position in Eaton Co. plc (NYSE:ETN)

National Bank of Canada FI lowered its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 10.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 254,380 shares of the industrial products company's stock after selling 29,320 shares during the quarter. National Bank of Canada FI owned 0.06% of Eaton worth $79,402,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the stock. Wealthcare Advisory Partners LLC boosted its stake in Eaton by 125.8% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 3,189 shares of the industrial products company's stock worth $768,000 after buying an additional 1,777 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in shares of Eaton by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company's stock worth $565,000 after purchasing an additional 1,053 shares during the last quarter. Ethos Financial Group LLC purchased a new position in Eaton in the fourth quarter valued at $201,000. Montag A & Associates Inc. raised its stake in Eaton by 6.6% in the fourth quarter. Montag A & Associates Inc. now owns 3,246 shares of the industrial products company's stock valued at $782,000 after buying an additional 200 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in Eaton during the 4th quarter worth about $1,043,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Price Performance

Shares of NYSE:ETN traded down $0.79 on Friday, hitting $284.93. The company had a trading volume of 2,163,790 shares, compared to its average volume of 2,172,430. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market cap of $113.92 billion, a PE ratio of 33.64, a PEG ratio of 2.35 and a beta of 1.01. The business has a 50 day moving average of $302.48 and a 200 day moving average of $310.93. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results 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. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, equities analysts anticipate that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.32%. Eaton's payout ratio is 44.39%.

Insider Activity at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the company's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares of the company's stock, valued at $21,451,287.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company's stock in a transaction dated 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 directly owns 9,900 shares of the company's stock, valued at approximately $2,858,328. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley began coverage on Eaton in a research report on Friday. They set an "overweight" rating and a $370.00 target price on the stock. Wolfe Research raised Eaton from an "underperform" rating to a "peer perform" rating in a report on Friday. Barclays increased their price target on shares of Eaton from $318.00 to $319.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. Jefferies Financial Group boosted their target price on Eaton from $370.00 to $385.00 and gave the company a "buy" rating in a report on Thursday, July 11th. Finally, Raymond James assumed coverage on shares of Eaton in a report on Friday, June 28th. They issued an "outperform" rating and a $375.00 target price on the stock. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and an average target price of $335.76.

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.