Eaton Co. plc (NYSE:ETN) Stock Holdings Trimmed by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 451,488 shares of the industrial products company's stock after selling 3,856 shares during the period. Janney Montgomery Scott LLC owned approximately 0.12% of Eaton worth $122,728,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bearing Point Capital LLC bought a new stake in shares of Eaton in the 4th quarter worth $2,713,000. Kennebec Savings Bank raised its stake 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 buying an additional 139 shares in the last quarter. American National Bank & Trust raised its stake in shares of 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 buying an additional 162 shares in the last quarter. Castle Rock Wealth Management LLC raised its stake in shares of Eaton by 7.0% in the 4th quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company's stock worth $2,575,000 after buying an additional 543 shares in the last quarter. Finally, CogentBlue Wealth Advisors LLC bought a new stake in shares of Eaton in the 4th quarter worth $670,000. Institutional investors own 82.97% of the company's stock.

Insider Transactions at Eaton

In other Eaton news, 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 value of $33,400,106.50. Following the sale, the insider now directly owns 490,208 shares in the company, valued at $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays lifted their target price on Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a report on Monday, June 9th. BNP Paribas Exane assumed coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price on the stock. Royal Bank of Canada lifted their target price on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. KeyCorp lifted their target price on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Morgan Stanley decreased their target price on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton Stock Performance

Shares of NYSE ETN opened at $323.26 on Monday. The business's 50-day moving average price is $304.79 and its two-hundred day moving average price is $314.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The company has a market capitalization of $126.49 billion, a P/E ratio of 34.03, 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 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. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.40 EPS. Analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal 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 paid a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.29%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

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.

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