Argentarii LLC Sells 896 Shares of Eaton Corporation, PLC (NYSE:ETN)

Argentarii LLC decreased its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 17.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,137 shares of the industrial products company's stock after selling 896 shares during the period. Argentarii LLC's holdings in Eaton were worth $1,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in shares of Eaton in the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV lifted its stake in Eaton by 102.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after buying an additional 51 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton during the 4th quarter valued at $33,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Eaton during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BNP Paribas Exane assumed coverage on shares of Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Morgan Stanley dropped their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company upped their price target on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Finally, KeyCorp increased 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. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $369.74.

Eaton Stock Down 0.4%

Shares of ETN traded down $1.32 during trading hours on Tuesday, reaching $357.17. 1,739,272 shares of the stock traded hands, compared to its average volume of 2,667,615. 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 stock has a fifty day simple moving average of $327.78 and a 200 day simple moving average of $312.77. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a market cap of $139.76 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.70 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results 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. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter last year, the firm earned $2.40 EPS. The company'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 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 41.98%.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred 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 sale, the insider directly owned 490,208 shares in the company, valued at $158,214,632. This trade 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 worth $49,622,894 over the last quarter. Company insiders own 0.30% of the company's stock.

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.