Fiduciary Alliance LLC Sells 2,120 Shares of Eaton Co. plc (NYSE:ETN)

Fiduciary Alliance LLC decreased its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,529 shares of the industrial products company's stock after selling 2,120 shares during the quarter. Fiduciary Alliance LLC's holdings in Eaton were worth $7,483,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norden Group LLC boosted its position in Eaton by 3.4% during the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock valued at $325,000 after purchasing an additional 32 shares during the period. TFC Financial Management Inc. increased its holdings in shares of Eaton by 4.7% in the 4th quarter. TFC Financial Management Inc. now owns 752 shares of the industrial products company's stock worth $250,000 after acquiring an additional 34 shares during the period. Nwam LLC boosted its stake in Eaton by 0.6% during the 4th quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock valued at $1,764,000 after purchasing an additional 34 shares during the period. Founders Financial Alliance LLC grew its position in Eaton by 0.7% in the 4th quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock worth $1,797,000 after purchasing an additional 35 shares during the last quarter. Finally, Nvwm LLC increased its stake in shares of Eaton by 0.8% in the fourth quarter. Nvwm LLC now owns 4,737 shares of the industrial products company's stock valued at $1,572,000 after purchasing an additional 38 shares during the period. Institutional investors own 82.97% of the company's stock.

Eaton Trading Up 2.2%

Shares of ETN traded up $7.05 during midday trading on Tuesday, hitting $325.91. The stock had a trading volume of 1,978,882 shares, compared to its average volume of 2,664,720. The business has a 50-day simple moving average of $293.96 and a two-hundred day simple moving average of $316.94. The firm has a market cap of $127.53 billion, a P/E ratio of 34.31, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99.

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 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 firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the business posted $2.40 EPS. The company's revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio (DPR) is 41.98%.

Insider Buying and Selling

In other news, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. This represents a 9.45% 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 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 value of $629,364.40. Following the sale, the insider now directly owns 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 disclosure for this sale can be found here. Over the last three months, insiders 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 recently issued reports on ETN. KeyCorp increased their price objective on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. BNP Paribas Exane initiated coverage on shares of Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. Barclays decreased their target price on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. Jefferies Financial Group dropped their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Finally, BNP Paribas started coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $367.83.

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.