Bank of Nova Scotia Sells 125 Shares of Eaton Co. plc (NYSE:ETN)

Bank of Nova Scotia trimmed its holdings in Eaton Co. plc (NYSE:ETNFree Report) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 11,102 shares of the industrial products company’s stock after selling 125 shares during the quarter. Bank of Nova Scotia’s holdings in Eaton were worth $2,674,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ETN. Jump Financial LLC increased its holdings in Eaton by 164.7% in the 3rd quarter. Jump Financial LLC now owns 2,970 shares of the industrial products company’s stock worth $633,000 after buying an additional 1,848 shares in the last quarter. Soltis Investment Advisors LLC grew its stake in shares of Eaton by 8.5% during the 3rd quarter. Soltis Investment Advisors LLC now owns 1,868 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 147 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of Eaton during the 3rd quarter valued at about $2,085,000. D.A. Davidson & CO. grew its stake in shares of Eaton by 9.8% during the 3rd quarter. D.A. Davidson & CO. now owns 24,645 shares of the industrial products company’s stock valued at $5,256,000 after purchasing an additional 2,193 shares during the period. Finally, KCM Investment Advisors LLC grew its stake in shares of Eaton by 1.0% during the 3rd quarter. KCM Investment Advisors LLC now owns 17,955 shares of the industrial products company’s stock valued at $3,829,000 after purchasing an additional 179 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ETN shares. Berenberg Bank boosted their price target on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. boosted their price target on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Bank of America lifted their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Finally, HSBC lifted their price objective on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $314.27.

Get Our Latest Analysis on Eaton

Eaton Stock Up 3.3 %

NYSE ETN opened at $326.67 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 12 month low of $182.20 and a 12 month high of $345.19. The stock’s 50 day moving average is $323.58 and its 200 day moving average is $281.77. The stock has a market cap of $130.60 billion, a PE ratio of 38.57, a P/E/G ratio of 2.71 and a beta of 1.04.

Eaton (NYSE:ETNGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the company posted $1.88 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Research analysts predict that Eaton Co. plc will post 10.56 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Friday, May 3rd. Eaton’s payout ratio is 44.39%.

Insiders Place Their Bets

In other news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now directly owns 5,086 shares in the company, valued at approximately $1,687,738.24. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Eaton Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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