Eaton Corporation, PLC (NYSE:ETN) Stock Holdings Decreased by Prescott Group Capital Management L.L.C.

Key Points

• Prescott Group Capital Management L.L.C. significantly reduced its stake in Eaton Corporation, PLC by 68.4%, holding just 947 shares after selling 2,053 shares in the first quarter, valued at approximately $257,000.
• Analysts have positive sentiments towards Eaton, with the company receiving multiple buy ratings and a consensus price target of $377.89, while its stock has recently appreciated by 1.3%.
• Eaton declared a quarterly dividend of $1.04 per share, which will be paid to stockholders on August 22nd, reflecting an annualized yield of 1.08%.

Prescott Group Capital Management L.L.C. cut its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 68.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 947 shares of the industrial products company's stock after selling 2,053 shares during the period. Prescott Group Capital Management L.L.C.'s holdings in Eaton were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in Eaton by 0.7% during the first quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock worth $3,593,000 after acquiring an additional 96 shares during the last quarter. Bearing Point Capital LLC acquired a new stake in Eaton during the fourth quarter worth approximately $2,713,000. Brighton Jones LLC boosted its position in Eaton by 4.9% during the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock worth $953,000 after acquiring an additional 164 shares during the last quarter. Kennebec Savings Bank boosted its position in Eaton by 5.4% during the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock worth $738,000 after acquiring an additional 139 shares during the last quarter. Finally, American National Bank & Trust boosted its position in Eaton by 5.4% during the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after acquiring an additional 162 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ETN. Royal Bank Of Canada raised their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. BNP Paribas began coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Citigroup lifted their price target on shares of Eaton from $351.00 to $420.00 and gave the company a "buy" rating in a report on Monday, July 14th. Barclays lifted their price target on shares of Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group lifted their price target on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and a consensus target price of $377.89.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction 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. The trade was a 17.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider directly owned 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% 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 in the last ninety days. 0.30% of the stock is currently owned by insiders.

Eaton Stock Down 0.6%

Shares of NYSE:ETN traded down $2.38 during midday trading on Tuesday, hitting $390.38. 868,665 shares of the company's stock traded hands, compared to its average volume of 3,053,726. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The company has a market cap of $152.76 billion, a PE ratio of 39.44, a P/E/G ratio of 2.96 and a beta of 1.17. The firm's fifty day moving average price is $345.85 and its two-hundred day moving average price is $316.18. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $399.56.

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. 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 the consensus estimate of $6.26 billion. During the same quarter in the previous year, the firm posted $2.40 EPS. The firm's quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.07%. The ex-dividend date is Thursday, August 7th. Eaton's dividend payout ratio (DPR) is 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.