Genesee Capital Advisors LLC Sells 199 Shares of Eaton Co. plc (NYSE:ETN)

Genesee Capital Advisors LLC cut its position in shares of Eaton Co. plc (NYSE:ETN) by 10.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,742 shares of the industrial products company’s stock after selling 199 shares during the period. Genesee Capital Advisors LLC’s holdings in Eaton were worth $577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ETN. Breakwater Investment Management increased its holdings 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 acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. purchased a new position in shares of Eaton in the 2nd quarter valued at $29,000. Redmont Wealth Advisors LLC purchased a new position in shares of Eaton in the 1st quarter valued at $33,000. LGT Financial Advisors LLC purchased a new position in shares of Eaton in the 2nd quarter valued at $33,000. Finally, West Financial Advisors LLC purchased a new position in shares of Eaton in the 3rd quarter valued at $35,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ETN. Barclays boosted their target price on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Citigroup began coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Morgan Stanley began coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Mizuho boosted their target price on Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Royal Bank of Canada dropped their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $340.06.

Insider Activity

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Michael Yelton sold 3,136 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Eaton Price Performance

NYSE ETN traded down $1.44 during trading hours on Monday, reaching $346.74. The company’s stock had a trading volume of 434,732 shares, compared to its average volume of 2,106,614. The company’s 50-day moving average is $314.01 and its two-hundred day moving average is $316.65. Eaton Co. plc has a 1-year low of $193.26 and a 1-year high of $349.74. The firm has a market capitalization of $138.63 billion, a price-to-earnings ratio of 41.11, a P/E/G ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

Eaton (NYSE:ETN) last announced its earnings results 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 business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. On average, equities analysts predict that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

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.