Haverford Financial Services Inc. Sells 5,462 Shares of Eaton Co. plc (NYSE:ETN)

Haverford Financial Services Inc. decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 13.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,813 shares of the industrial products company’s stock after selling 5,462 shares during the period. Eaton comprises approximately 3.2% of Haverford Financial Services Inc.’s holdings, making the stock its 16th largest position. Haverford Financial Services Inc.’s holdings in Eaton were worth $10,602,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. LifeSteps Financial Inc. bought a new position in Eaton in the 1st quarter worth $25,000. Breakwater Investment Management boosted its holdings in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares during the period. Atwood & Palmer Inc. boosted its holdings in Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after buying an additional 50 shares during the period. Clear Investment Research LLC bought a new position in Eaton in the 4th quarter worth $29,000. Finally, Proffitt & Goodson Inc. bought a new position in Eaton in the 2nd quarter worth $29,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 0.9 %

Shares of NYSE ETN opened at $314.65 on Thursday. The firm’s 50-day moving average price is $299.93 and its 200-day moving average price is $312.10. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $125.80 billion, a price-to-earnings ratio of 37.15, a P/E/G ratio of 2.28 and a beta of 1.01. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, equities research analysts anticipate that Eaton Co. plc will post 10.74 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.19%. Eaton’s payout ratio is 44.39%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ETN shares. Barclays upped their target price on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Citigroup initiated coverage on shares of Eaton in a research note on Monday. They issued a “buy” rating and a $348.00 price target on the stock. Royal Bank of Canada decreased their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group boosted their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $337.41.

Insider Activity at Eaton

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Karenann K. Terrell bought 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, with a total value of $149,485.00. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at $149,485. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company’s stock.

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.