Argentarii LLC Lowers Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

Argentarii LLC lowered its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 17.8% during the first quarter, according to the company in its most recent disclosure with the Securities and 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 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in shares of Eaton in the 4th quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter valued at $27,000. Creative Financial Designs Inc. ADV boosted its holdings in shares of Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton during the 4th quarter valued at $33,000. Finally, Vermillion Wealth Management Inc. acquired a new stake 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.

Insider Buying and Selling at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider owned 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider owned 490,208 shares of the company's stock, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock worth $49,622,894 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Evercore ISI raised their price objective on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a report on Saturday. Jefferies Financial Group cut their target price on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Barclays lifted their target price on Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, BNP Paribas Exane initiated coverage on Eaton in a research 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 fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $370.63.

Eaton Stock Up 0.8%

Shares of NYSE ETN traded up $2.84 during trading on Wednesday, reaching $359.82. The company had a trading volume of 1,182,573 shares, compared to its average volume of 3,152,539. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99. The stock has a market cap of $140.80 billion, a PE ratio of 36.31, a P/E/G ratio of 2.70 and a beta of 1.17. The business's 50-day moving average is $329.10 and its 200 day moving average is $313.08. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results 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 return on equity of 23.41% and a net margin of 15.55%. The firm had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the prior year, the firm posted $2.40 earnings per share. The company's quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.16%. 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.