Van Cleef Asset Management Inc Has $478,000 Stock Position in Eaton Co. plc (NYSE:ETN)

Van Cleef Asset Management Inc lessened its stake in Eaton Co. plc (NYSE:ETN) by 19.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,525 shares of the industrial products company’s stock after selling 375 shares during the quarter. Van Cleef Asset Management Inc’s holdings in Eaton were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ETN. Legacy Capital Group California Inc. raised its stake in Eaton by 1.2% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after acquiring an additional 32 shares during the period. Well Done LLC raised its position in shares of Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after purchasing an additional 33 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Eaton by 1.7% during the 1st quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company’s stock worth $644,000 after buying an additional 34 shares during the last quarter. Fragasso Group Inc. grew its stake in Eaton by 3.6% in the 1st quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock valued at $323,000 after buying an additional 36 shares during the last quarter. Finally, Valley National Advisers Inc. raised its holdings in Eaton by 5.6% in the 1st quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company’s stock valued at $213,000 after acquiring an additional 36 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dorothy C. Thompson bought 2,205 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 in the last quarter. Insiders own 0.53% of the company’s stock.

Eaton Price Performance

ETN stock opened at $288.30 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The company’s 50-day moving average is $301.53 and its 200-day moving average is $311.47. The stock has a market capitalization of $115.26 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.35 billion. Equities research analysts expect that Eaton Co. plc will post 10.74 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is 44.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ETN shares. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Barclays upped their target price on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Raymond James decreased their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Jefferies Financial Group upped 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. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average target price of $335.18.

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.