Commonwealth Equity Services LLC Sells 830 Shares of Eaton Corporation, PLC (NYSE:ETN)

Commonwealth Equity Services LLC reduced its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 267,541 shares of the industrial products company's stock after selling 830 shares during the period. Commonwealth Equity Services LLC owned about 0.07% of Eaton worth $72,726,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Eaton by 1.4% in the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after purchasing an additional 45 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Eaton by 17.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock valued at $303,000 after buying an additional 136 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new position in shares of Eaton in the fourth quarter worth about $42,839,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Eaton in the 4th quarter valued at about $233,000. Finally, Perennial Investment Advisors LLC purchased a new stake in Eaton during the 4th quarter valued at about $201,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ETN shares. Wall Street Zen cut Eaton from a "buy" rating to a "hold" rating in a research note on Saturday. Wells Fargo & Company lifted their target price on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Sanford C. Bernstein reissued an "outperform" rating and set a $396.00 price target on shares of Eaton in a research report on Monday, July 14th. Evercore ISI raised their price target on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada upped their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $377.89.

Eaton Stock Performance

Shares of Eaton stock opened at $381.52 on Monday. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $399.56. The firm has a market capitalization of $149.29 billion, a P/E ratio of 38.50, a P/E/G ratio of 2.88 and a beta of 1.18. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $350.92 and a two-hundred day simple moving average of $317.42.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the business earned $2.40 EPS. Eaton's quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 7th. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Insider Activity at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the transaction, the insider owned 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock valued at $49,622,894 over the last quarter. Company insiders own 0.30% of the company's stock.

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.

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