Crossmark Global Holdings Inc. Trims Holdings in Eaton Co. plc (NYSE:ETN)

Crossmark Global Holdings Inc. reduced its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,189 shares of the industrial products company’s stock after selling 828 shares during the period. Crossmark Global Holdings Inc.’s holdings in Eaton were worth $5,366,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Capital World Investors raised its position in shares of Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after purchasing an additional 2,439,270 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after buying an additional 1,070,024 shares during the last quarter. Swedbank AB bought a new position in shares of Eaton in the second quarter worth approximately $225,974,000. Assenagon Asset Management S.A. increased its position in shares of Eaton by 1,604.4% during the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after acquiring an additional 634,059 shares in the last quarter. Finally, Wulff Hansen & CO. raised its holdings in Eaton by 31,255.0% in the 2nd quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after acquiring an additional 476,639 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 1.4 %

NYSE ETN opened at $371.95 on Tuesday. Eaton Co. plc has a 52 week low of $220.24 and a 52 week high of $373.39. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $146.99 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 2.94 and a beta of 1.01. The stock’s 50-day moving average price is $328.30 and its 200-day moving average price is $319.80.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. The business 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 earnings per share. On average, equities research analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.01%. Eaton’s payout ratio is presently 40.00%.

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 3,136 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Eaton news, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated 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 transaction, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 117,745 shares of company stock valued at $39,278,367 over the last ninety days. 0.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on ETN shares. Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Morgan Stanley began coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Citigroup started coverage on shares of Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Finally, Evercore ISI dropped their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $343.28.

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.