Occudo Quantitative Strategies LP Has $1.11 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Occudo Quantitative Strategies LP cut its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 72.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,344 shares of the industrial products company's stock after selling 8,619 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Eaton were worth $1,110,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Lighthouse Wealth Management Inc. acquired a new stake in Eaton during the fourth quarter valued at approximately $297,000. Bearing Point Capital LLC acquired a new stake in Eaton during the fourth quarter valued at approximately $2,713,000. Webster Bank N. A. raised its stake in Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock valued at $5,949,000 after buying an additional 6,166 shares in the last quarter. Ballentine Partners LLC raised its stake in Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock valued at $3,072,000 after buying an additional 790 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Eaton by 13.2% during the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock valued at $4,804,000 after buying an additional 1,694 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of NYSE ETN traded up $2.58 during midday trading on Friday, hitting $329.40. 1,997,137 shares of the company's stock were exchanged, compared to its average volume of 2,660,386. The firm has a market cap of $128.89 billion, a P/E ratio of 34.67, a PEG ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The stock's 50 day moving average price is $287.40 and its 200-day moving average price is $319.71.

Eaton (NYSE:ETN - Get Free Report) last released 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 firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.40 earnings per share. Equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.26%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Insider Activity

In other Eaton news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider now directly owns 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $355.00 target price on shares of Eaton in a report on Monday, May 5th. Evercore ISI lowered their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Morgan Stanley lowered their target price on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Citigroup upped their target price on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday, May 5th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and a consensus target price of $366.56.

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.