GF Fund Management CO. LTD. decreased its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 46.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,325 shares of the industrial products company's stock after selling 9,010 shares during the quarter. GF Fund Management CO. LTD.'s holdings in Eaton were worth $2,807,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of Eaton by 1.4% in the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after buying an additional 45 shares during the period. Revolve Wealth Partners LLC raised its holdings in Eaton by 17.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after purchasing an additional 136 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new position in shares of Eaton in the 4th quarter worth approximately $42,839,000. Assetmark Inc. boosted its stake in shares of Eaton by 7.6% in the 4th quarter. Assetmark Inc. now owns 33,265 shares of the industrial products company's stock valued at $11,040,000 after purchasing an additional 2,347 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of Eaton by 27.6% during the fourth quarter. Proficio Capital Partners LLC now owns 2,207 shares of the industrial products company's stock worth $732,000 after buying an additional 478 shares during the period. Institutional investors own 82.97% of the company's stock.
Eaton Stock Up 1.1%
NYSE ETN traded up $3.79 on Friday, reaching $361.98. The company had a trading volume of 1,088,135 shares, compared to its average volume of 2,664,244. 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's fifty day moving average is $326.36 and its 200 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 stock has a market capitalization of $141.64 billion, a P/E ratio of 36.53, a P/E/G ratio of 2.73 and a beta of 1.17.
Eaton (NYSE:ETN - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the business posted $2.40 EPS. The business's revenue was up 7.3% compared to the same quarter last year. Sell-side analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.
Eaton Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.15%. Eaton's payout ratio is presently 41.98%.
Insider Buying and Selling
In other news, insider Craig Arnold sold 103,486 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 490,208 shares of the company's stock, valued at $158,214,632. This represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction that occurred 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 owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was 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 over the last ninety days. 0.30% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Royal Bank Of Canada upped their target price on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. lifted their price objective on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. BNP Paribas initiated coverage on shares of Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Evercore ISI lifted their price target on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Finally, Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a research report on Saturday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $369.06.
View Our Latest Stock Report on Eaton
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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