Elyxium Wealth LLC Lowers Stock Holdings in Eaton Co. plc (NYSE:ETN)

Elyxium Wealth LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 37.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,719 shares of the industrial products company's stock after selling 1,014 shares during the period. Elyxium Wealth LLC's holdings in Eaton were worth $570,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new stake in Eaton in the fourth quarter worth about $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton during the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN increased its stake in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton during the fourth quarter valued at approximately $33,000. Finally, Activest Wealth Management increased its stake in shares of Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 87 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ETN has been the subject of a number of analyst reports. Citigroup raised their target price on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Melius downgraded shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $355.00 target price on shares of Eaton in a research note on Monday, May 5th. KeyCorp raised their price target on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, Jefferies Financial Group reduced their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $361.13.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the transaction, the insider now owns 489,444 shares in the company, valued at $149,490,880.92. This trade represents a 9.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Eaton Stock Performance

NYSE:ETN traded up $2.97 during trading hours on Friday, reaching $310.01. The company had a trading volume of 2,038,665 shares, compared to its average volume of 2,647,971. 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 Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The firm has a market cap of $121.31 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.64 and a beta of 1.14. The firm's 50 day moving average price is $282.81 and its 200-day moving average price is $319.96.

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

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's dividend payout ratio 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.