D.A. Davidson & CO. Sells 2,317 Shares of Eaton Corporation, PLC (NYSE:ETN)

D.A. Davidson & CO. reduced its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,255 shares of the industrial products company's stock after selling 2,317 shares during the quarter. D.A. Davidson & CO.'s holdings in Eaton were worth $6,865,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Eaton by 0.7% in the 1st quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock worth $3,593,000 after purchasing an additional 96 shares in the last quarter. Bearing Point Capital LLC bought a new stake in shares of Eaton in the 4th quarter worth approximately $2,713,000. Brighton Jones LLC boosted its position in shares of Eaton by 4.9% in the 1st quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock worth $953,000 after purchasing an additional 164 shares in the last quarter. Kennebec Savings Bank boosted its position in shares of Eaton by 5.4% in the 1st quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock worth $738,000 after purchasing an additional 139 shares in the last quarter. Finally, American National Bank & Trust raised its holdings in Eaton by 5.4% in the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after acquiring an additional 162 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ETN shares. BNP Paribas started coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a report on Tuesday. Barclays boosted their price objective on shares of Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a report on Monday, June 9th. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a report on Saturday. Finally, BNP Paribas Exane started coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $369.06.

Eaton Trading Up 1.1%

NYSE:ETN opened at $361.98 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The firm has a market capitalization of $141.64 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 2.73 and a beta of 1.17. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $379.99. The business has a fifty day moving average price of $326.36 and a 200-day moving average price of $312.94.

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

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.15%. Eaton's dividend payout ratio (DPR) is 41.98%.

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Craig Arnold sold 103,486 shares of the company's 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 completion of the transaction, the insider directly owned 490,208 shares of the company's stock, valued at $158,214,632. This represents a 17.43% decrease in their position. 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 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

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.

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