Gemmer Asset Management LLC Sells 30 Shares of Eaton Co. plc (NYSE:ETN)

Gemmer Asset Management LLC lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,021 shares of the industrial products company’s stock after selling 30 shares during the period. Gemmer Asset Management LLC’s holdings in Eaton were worth $1,001,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ETN. Breakwater Investment Management lifted its stake in shares of Eaton by 1,560.0% during the second 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. acquired a new position in shares of Eaton during the second quarter valued at $29,000. LGT Financial Advisors LLC acquired a new position in shares of Eaton during the second quarter valued at $33,000. Redmont Wealth Advisors LLC acquired a new position in shares of Eaton during the first quarter valued at $33,000. Finally, West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter valued at $35,000. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.8 %

NYSE:ETN opened at $347.20 on Monday. The business’s 50-day simple moving average is $318.89 and its 200-day simple moving average is $317.49. Eaton Co. plc has a fifty-two week low of $196.12 and a fifty-two week high of $349.74. The stock has a market capitalization of $138.22 billion, a PE 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 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 earnings per share (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 for the quarter, compared to analyst estimates of $6.35 billion. Sell-side analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is presently 41.36%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ETN shares. Citigroup assumed coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Royal Bank of Canada cut their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Evercore ISI cut their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Raymond James cut their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Finally, Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $340.06.

Insider Activity at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the business’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 transaction of $96,721.20. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the transaction, 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 can be accessed through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’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 transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is owned by insiders.

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.