First Horizon Advisors Inc. Lowers Holdings in Eaton Corporation, PLC (NYSE:ETN)

First Horizon Advisors Inc. trimmed its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 26.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,104 shares of the industrial products company's stock after selling 1,466 shares during the period. First Horizon Advisors Inc.'s holdings in Eaton were worth $1,116,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in Eaton during the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC bought a new position in Eaton in the fourth quarter valued at approximately $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in Eaton during the 4th quarter worth $33,000. Vermillion Wealth Management Inc. bought a new stake in shares of Eaton during the 4th quarter valued at $33,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 51 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ETN shares. Barclays boosted their price objective on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a report on Monday, June 9th. Morgan Stanley decreased their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company raised their price objective on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Tuesday. BNP Paribas began coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Finally, KeyCorp raised their price target on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $369.06.

Insiders Place Their Bets

In other Eaton news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred on 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 directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction 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 owned 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% 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. Insiders own 0.30% of the company's stock.

Eaton Trading Up 1.1%

Shares of Eaton stock traded up $3.79 during trading on Friday, reaching $361.98. The company's stock had a trading volume of 1,088,135 shares, compared to its average volume of 2,664,244. The firm's 50-day moving average is $326.36 and its two-hundred day moving average is $312.94. 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 $141.64 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 2.73 and a beta of 1.17. 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 announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the firm earned $2.40 EPS. The company's revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders 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 yield of 1.15%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is 41.98%.

Eaton 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.