FUKOKU MUTUAL LIFE INSURANCE Co reduced its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 31.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,775 shares of the industrial products company's stock after selling 803 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co's holdings in Eaton were worth $482,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Brighton Jones LLC increased its position in Eaton by 1.4% in the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after acquiring an additional 45 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Eaton by 17.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock valued at $303,000 after purchasing an additional 136 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in shares of Eaton in the 4th quarter valued at $42,839,000. Proficio Capital Partners LLC boosted its stake in shares of Eaton by 27.6% in the 4th quarter. Proficio Capital Partners LLC now owns 2,207 shares of the industrial products company's stock valued at $732,000 after purchasing an additional 478 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Eaton by 11.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the industrial products company's stock valued at $682,000 after purchasing an additional 216 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Eaton
In related news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider owned 490,208 shares in the company, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock valued at $49,622,894 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.
Eaton Stock Up 0.8%
Shares of ETN stock traded up $3.03 on Friday, hitting $360.67. The stock had a trading volume of 1,697,991 shares, compared to its average volume of 2,669,932. The business has a 50 day moving average of $332.74 and a 200 day moving average of $313.67. The stock has a market cap of $141.13 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 2.70 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.40 earnings per share. As a group, analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current year.
Eaton Announces Dividend
The company also recently announced 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 was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.15%. Eaton's dividend payout ratio is currently 41.98%.
Analysts Set New Price Targets
ETN has been the topic of a number of analyst reports. KeyCorp upped their price objective on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. JPMorgan Chase & Co. boosted their target price on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Barclays boosted their target price on Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their target price on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average target price of $370.63.
Read Our Latest Report on ETN
Eaton Company Profile
(
Free Report)
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.
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