Eaton Corporation, PLC (NYSE:ETN) Holdings Cut by Atria Investments Inc

Atria Investments Inc reduced its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 4.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,441 shares of the industrial products company's stock after selling 2,534 shares during the quarter. Atria Investments Inc's holdings in Eaton were worth $14,255,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. IMA Advisory Services Inc. purchased a new position in shares of Eaton during the 1st quarter valued at about $25,000. Capital A Wealth Management LLC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Eaton by 102.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after buying an additional 51 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton during the fourth quarter worth $33,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Eaton during the fourth quarter valued at $33,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

In other news, insider Michael Yelton sold 2,120 shares of Eaton 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 completion of the sale, the insider directly owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider directly owned 490,208 shares of the company's stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 in the last three months. 0.30% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

NYSE:ETN traded up $0.84 during mid-day trading on Monday, hitting $393.01. The company's stock had a trading volume of 1,216,828 shares, compared to its average volume of 3,061,378. The business's fifty day moving average is $344.57 and its two-hundred day moving average is $315.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56. The stock has a market cap of $153.78 billion, a price-to-earnings ratio of 39.61, a PEG ratio of 2.96 and a beta of 1.17.

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 business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business's revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $2.40 EPS. Analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be issued a $1.04 dividend. The ex-dividend date is Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.06%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ETN shares. The Goldman Sachs Group lifted their target price on Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. BNP Paribas began coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Royal Bank Of Canada upped their price objective on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. BNP Paribas Exane began coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Finally, KeyCorp upped their price target on shares of Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $377.89.

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.