Beacon Financial Group Trims Holdings in Eaton Co. plc (NYSE:ETN)

Beacon Financial Group lessened its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,036 shares of the industrial products company's stock after selling 1,868 shares during the period. Eaton accounts for 0.7% of Beacon Financial Group's portfolio, making the stock its 29th largest holding. Beacon Financial Group's holdings in Eaton were worth $6,806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Bearing Point Capital LLC acquired a new position in Eaton in the 4th quarter valued at approximately $2,713,000. Generate Investment Management Ltd bought a new stake in shares of Eaton during the fourth quarter valued at approximately $12,678,000. Strategic Financial Concepts LLC acquired a new position in shares of Eaton in the fourth quarter valued at $38,000. American National Bank & Trust lifted its position in Eaton by 5.4% in the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after purchasing an additional 162 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Eaton during the fourth quarter worth $161,000. Institutional investors own 82.97% of the company's stock.

Eaton Trading Up 1.6%

ETN stock traded up $5.23 during mid-day trading on Friday, reaching $331.71. The company's stock had a trading volume of 2,206,422 shares, compared to its average volume of 2,650,186. 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. The business's 50 day moving average price is $297.01 and its 200 day moving average price is $316.86. The company has a market cap of $129.80 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (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 company had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the prior year, the firm earned $2.40 EPS. The business's revenue was up 7.3% on a year-over-year basis. On average, equities research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Insider Activity at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated 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 directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider now directly owns 490,208 shares in the company, valued at $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. In the last three months, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ETN. Evercore ISI upped their price target on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Royal Bank of Canada increased their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. KeyCorp lifted their price target on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Barclays dropped their price objective on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $355.00 target price on shares of Eaton in a report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Eaton has an average rating of "Moderate Buy" and a consensus price target of $367.83.

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.