Mengis Capital Management Inc. Buys 80 Shares of Eaton Co. plc (NYSE:ETN)

Mengis Capital Management Inc. lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,627 shares of the industrial products company’s stock after buying an additional 80 shares during the period. Mengis Capital Management Inc.’s holdings in Eaton were worth $871,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Strategic Wealth Partners Ltd. boosted its holdings in Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD boosted its stake in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after buying an additional 30 shares during the last quarter. Legacy Capital Group California Inc. grew its holdings in shares of Eaton by 1.2% in the second 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 in the last quarter. Venturi Wealth Management LLC increased its position in shares of Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after acquiring an additional 32 shares during the last quarter. Finally, Well Done LLC lifted its holdings in Eaton by 1.3% during the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after acquiring an additional 33 shares during the period. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE ETN opened at $369.05 on Wednesday. The company’s 50 day simple moving average is $331.19 and its two-hundred day simple moving average is $320.50. The stock has a market capitalization of $145.85 billion, a PE ratio of 39.26, a P/E/G ratio of 2.98 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1 year low of $220.24 and a 1 year high of $373.49.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $2.47 earnings per share. Analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Insider Buying and Selling at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction on 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 transaction, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karenann K. Terrell acquired 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. Insiders sold a total of 117,745 shares of company stock worth $39,278,367 over the last three months. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ETN shares. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the company from $333.00 to $389.00 in a research note on Wednesday. Wells Fargo & Company increased their price target on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Citigroup initiated coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Raymond James reduced their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Finally, Sanford C. Bernstein started coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $346.39.

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.