Frank Rimerman Advisors LLC Sells 86 Shares of Eaton Co. plc (NYSE:ETN)

Frank Rimerman Advisors LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,634 shares of the industrial products company’s stock after selling 86 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Eaton were worth $3,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Brookstone Capital Management boosted its holdings in Eaton by 15.5% in the first quarter. Brookstone Capital Management now owns 1,375 shares of the industrial products company’s stock valued at $430,000 after acquiring an additional 185 shares during the last quarter. Capital Asset Advisory Services LLC bought a new stake in shares of Eaton in the 1st quarter valued at $215,000. Hennion & Walsh Asset Management Inc. raised its stake in Eaton by 36.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock worth $453,000 after buying an additional 384 shares during the last quarter. Vicus Capital acquired a new position in Eaton in the first quarter valued at $395,000. Finally, Symphony Financial Ltd. Co. boosted its position in Eaton by 3.8% during the first quarter. Symphony Financial Ltd. Co. now owns 1,589 shares of the industrial products company’s stock valued at $497,000 after acquiring an additional 58 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on ETN shares. Morgan Stanley initiated coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Citigroup assumed coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Barclays boosted their target price on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada decreased their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Evercore ISI cut their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

Eaton Trading Down 0.2 %

NYSE:ETN opened at $344.49 on Friday. Eaton Co. plc has a 52 week low of $193.77 and a 52 week high of $349.74. The firm has a 50-day moving average price of $318.89 and a two-hundred day moving average price of $317.47. The firm has a market cap of $137.14 billion, a price-to-earnings ratio of 37.90, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, equities analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s payout ratio is currently 41.36%.

Insider Buying and Selling

In other news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares in the company, valued at $662,161.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company’s stock.

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.