Allegheny Financial Group Sells 1,789 Shares of Eaton Co. plc (NYSE:ETN)

Allegheny Financial Group decreased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 48.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,879 shares of the industrial products company's stock after selling 1,789 shares during the period. Allegheny Financial Group's holdings in Eaton were worth $624,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Morse Asset Management Inc bought a new stake in Eaton in the third quarter valued at approximately $33,000. Bard Financial Services Inc. purchased a new position in shares of Eaton in the third quarter valued at about $255,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Eaton in the third quarter worth about $4,913,000. Tidal Investments LLC increased its holdings in Eaton by 68.4% during the 3rd quarter. Tidal Investments LLC now owns 29,722 shares of the industrial products company's stock valued at $9,851,000 after purchasing an additional 12,069 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its holdings in Eaton by 0.5% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 15,621 shares of the industrial products company's stock worth $5,177,000 after buying an additional 71 shares during the period. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

ETN has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on Eaton from $270.00 to $310.00 and gave the company an "equal weight" rating in a research note on Monday. KeyCorp lifted their target price on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday. Melius lowered shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. Melius Research reiterated a "hold" rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their target price on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $357.31.

Eaton Stock Down 0.2 %

ETN stock traded down $0.64 during midday trading on Monday, hitting $299.07. The company's stock had a trading volume of 2,454,895 shares, compared to its average volume of 2,635,511. The company has a market cap of $117.17 billion, a PE ratio of 31.48, a P/E/G ratio of 2.64 and a beta of 1.14. The firm's 50-day moving average is $281.21 and its 200-day moving average is $321.44. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. Eaton's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.40 EPS. On average, equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 41.98%.

About Eaton

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.