Greenwood Capital Associates LLC Has $4.49 Million Position in Eaton Co. plc (NYSE:ETN)

Greenwood Capital Associates LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 43.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,501 shares of the industrial products company's stock after acquiring an additional 4,979 shares during the period. Greenwood Capital Associates LLC's holdings in Eaton were worth $4,485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Eaton by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after buying an additional 99,291 shares in the last quarter. FMR LLC boosted its holdings in shares of Eaton by 1.2% in the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock valued at $5,051,807,000 after purchasing an additional 182,455 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Eaton by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock valued at $2,714,677,000 after acquiring an additional 129,071 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Eaton by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock valued at $1,550,226,000 after buying an additional 192,482 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Eaton by 8.8% during the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after purchasing an additional 368,241 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of NYSE:ETN traded down $7.59 during trading on Friday, reaching $322.75. The stock had a trading volume of 894,199 shares, compared to its average volume of 2,637,054. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The business's 50-day moving average price is $303.34 and its 200 day moving average price is $315.40. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market capitalization of $126.29 billion, a PE ratio of 34.00, a P/E/G ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share 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 analysts' expectations of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. Eaton's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.40 EPS. As a group, equities analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 41.98%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ETN shares. BNP Paribas initiated coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. BNP Paribas Exane assumed coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Barclays boosted their price objective on Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $355.00 price objective on shares of Eaton in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $368.78.

Insider Transactions at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated 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 completion of the sale, the insider now directly owns 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 over the last three months. 0.30% of the stock is currently owned by corporate insiders.

Eaton Company 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.