Eaton Co. plc (NYSE:ETN) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC lowered its position in Eaton Co. plc (NYSE:ETN) by 64.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,807 shares of the industrial products company’s stock after selling 3,332 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Eaton were worth $566,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ETN. Legacy Capital Group California Inc. increased its position in Eaton by 1.2% in the 2nd 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 during the period. Well Done LLC raised its position in shares of Eaton by 1.3% during the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 33 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Eaton by 1.7% in the first quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company’s stock worth $644,000 after acquiring an additional 34 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in Eaton by 1.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock valued at $644,000 after purchasing an additional 35 shares in the last quarter. Finally, Fragasso Group Inc. boosted its position in Eaton by 3.6% during the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock worth $323,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

ETN opened at $329.69 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $299.99 and a 200 day simple moving average of $312.91. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The stock has a market cap of $131.81 billion, a P/E ratio of 38.92, a P/E/G ratio of 2.28 and a beta of 1.01.

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

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.14%. Eaton’s dividend payout ratio is currently 44.39%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ETN. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Citigroup initiated coverage on shares of Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price target for the company. Morgan Stanley started coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Royal Bank of Canada reduced their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Evercore ISI lowered their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $337.41.

Insider Transactions at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s 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 owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,511 shares of company stock worth $15,809,326. Company insiders own 0.53% of the company’s stock.

Eaton Company 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.