Valeo Financial Advisors LLC Sells 897 Shares of Eaton Corporation, PLC (NYSE:ETN)

Valeo Financial Advisors LLC cut its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 7.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 10,640 shares of the industrial products company's stock after selling 897 shares during the period. Valeo Financial Advisors LLC's holdings in Eaton were worth $2,893,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC acquired a new stake in Eaton during the fourth quarter worth $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton during the fourth quarter worth $27,000. Creative Financial Designs Inc. ADV boosted its holdings 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 purchasing an additional 51 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Eaton in the fourth quarter valued at $33,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Eaton during the 4th quarter worth $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ETN shares. BNP Paribas 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 for the company. KeyCorp upped their price objective on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Jefferies Financial Group lowered their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Citigroup raised their price objective on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Evercore ISI lifted their target price on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $369.74.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction 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 transaction, the insider owned 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 490,208 shares in the company, valued at $158,214,632. This 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 valued at $49,622,894 over the last ninety days. Insiders own 0.30% of the company's stock.

Eaton Stock Down 0.4%

ETN traded down $1.32 on Tuesday, reaching $357.17. The company's stock had a trading volume of 1,739,272 shares, compared to its average volume of 2,661,528. 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 50 day moving average of $327.78 and a two-hundred day moving average of $312.77. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $139.76 billion, a price-to-earnings ratio of 36.04, a P/E/G ratio of 2.73 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.40 earnings per share. As a group, analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

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