Applied Finance Capital Management LLC Cuts Stake in Eaton Co. plc (NYSE:ETN)

Applied Finance Capital Management LLC decreased its position in Eaton Co. plc (NYSE:ETNFree Report) by 10.1% during the 4th quarter, Holdings Channel reports. The fund owned 1,412 shares of the industrial products company’s stock after selling 159 shares during the quarter. Applied Finance Capital Management LLC’s holdings in Eaton were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ETN. Tennessee Valley Asset Management Partners purchased a new position in shares of Eaton during the 4th quarter worth approximately $25,000. Valued Wealth Advisors LLC acquired a new position in Eaton during the fourth quarter worth $35,000. Chilton Capital Management LLC acquired a new position in shares of Eaton during the 4th quarter worth $35,000. Authentikos Wealth Advisory LLC acquired a new position in Eaton during the third quarter worth about $39,000. Finally, Fortitude Family Office LLC purchased a new position in Eaton in the fourth quarter valued at about $46,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Up 0.0 %

Shares of ETN traded up $0.06 during mid-day trading on Friday, hitting $330.24. The company had a trading volume of 1,881,539 shares, compared to its average volume of 2,429,416. Eaton Co. plc has a 1-year low of $167.33 and a 1-year high of $338.88. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The business’s 50-day simple moving average is $316.38 and its 200-day simple moving average is $271.09. The stock has a market cap of $132.03 billion, a PE ratio of 38.99, a P/E/G ratio of 2.60 and a beta of 1.06.

Eaton (NYSE:ETNGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 EPS. Sell-side analysts forecast that Eaton Co. plc will post 10.51 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders 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 1.14%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio is currently 44.39%.

Insider Buying and Selling

In related news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the transaction, the insider now owns 5,086 shares in the company, valued at approximately $1,687,738.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the completion of the transaction, the insider now owns 5,086 shares in the company, valued at approximately $1,687,738.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,174 shares of company stock valued at $5,098,000. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ETN. The Goldman Sachs Group lifted their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Argus lifted their target price on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. UBS Group increased their price target on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Bank of America upped their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, HSBC raised their price target on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $314.27.

View Our Latest Stock Analysis on ETN

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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