Eaton Co. plc (NYSE:ETN) Shares Sold by Dover Advisors LLC

Dover Advisors LLC reduced its position in Eaton Co. plc (NYSE:ETN) by 24.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,268 shares of the industrial products company’s stock after selling 2,683 shares during the period. Eaton comprises approximately 2.6% of Dover Advisors LLC’s holdings, making the stock its 7th largest position. Dover Advisors LLC’s holdings in Eaton were worth $1,991,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new stake in Eaton during the 4th quarter valued at $25,000. Valued Wealth Advisors LLC purchased a new stake in Eaton in the 4th quarter worth about $35,000. Chilton Capital Management LLC acquired a new stake in Eaton during the 4th quarter worth about $35,000. Authentikos Wealth Advisory LLC purchased a new position in Eaton during the 3rd quarter valued at about $39,000. Finally, Fortitude Family Office LLC purchased a new position in Eaton during the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ETN. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. 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. UBS Group upped their target price on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Bank of America lifted their price target on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average price target of $295.60.

Insider Activity

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last three months, insiders sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is currently owned by company insiders.

Eaton Trading Up 2.3 %

Shares of ETN stock traded up $7.20 on Friday, reaching $324.30. The company had a trading volume of 2,305,692 shares, compared to its average volume of 2,383,996. The stock has a market cap of $129.56 billion, a PE ratio of 40.44, a PEG ratio of 2.69 and a beta of 1.07. The company has a 50-day moving average of $304.82 and a 200-day moving average of $258.90. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a 12 month low of $162.04 and a 12 month high of $331.47.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.06 EPS. On average, equities analysts forecast that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is currently 46.88%.

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.