Moody Lynn & Lieberson LLC Sells 1,661 Shares of Eaton Corporation, PLC (NYSE:ETN)

Moody Lynn & Lieberson LLC trimmed its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,097 shares of the industrial products company's stock after selling 1,661 shares during the period. Eaton accounts for 1.3% of Moody Lynn & Lieberson LLC's investment portfolio, making the stock its 25th biggest holding. Moody Lynn & Lieberson LLC's holdings in Eaton were worth $20,957,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ETN. Norden Group LLC lifted its stake in shares of Eaton by 3.4% during the fourth quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock valued at $325,000 after acquiring an additional 32 shares during the period. Founders Financial Alliance LLC raised its holdings in Eaton by 0.7% during 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. Sound View Wealth Advisors Group LLC raised its holdings in Eaton by 1.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company's stock worth $1,190,000 after purchasing an additional 38 shares during the last quarter. Lantern Wealth Advisors LLC boosted its stake in shares of Eaton by 1.0% in the 4th quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock valued at $1,340,000 after purchasing an additional 38 shares during the last quarter. Finally, AGH Wealth Advisors LLC grew its position in shares of Eaton by 2.6% during the 1st quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock worth $412,000 after buying an additional 38 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. BNP Paribas Exane started coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Morgan Stanley reduced their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Citigroup lifted their price objective on Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Royal Bank Of Canada increased their target price on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Finally, Jefferies Financial Group decreased their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $369.06.

Eaton Stock Up 1.1%

Shares of NYSE:ETN traded up $3.79 during midday trading on Thursday, reaching $361.98. 1,088,135 shares of the company were exchanged, compared to its average volume of 2,664,244. The firm has a market cap of $141.64 billion, a PE ratio of 36.53, a P/E/G ratio of 2.70 and a beta of 1.17. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The stock has a fifty day simple moving average of $324.90 and a two-hundred day simple moving average of $312.84. 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 quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $2.40 EPS. As a group, sell-side analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.15%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 103,486 shares of the 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 transaction, the insider directly owned 490,208 shares of the company's stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the firm's 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 completion of the transaction, the insider owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by insiders.

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.