Graham Capital Management L.P. Sells 25,260 Shares of Eaton Co. plc (NYSE:ETN)

Graham Capital Management L.P. trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 96.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837 shares of the industrial products company's stock after selling 25,260 shares during the period. Graham Capital Management L.P.'s holdings in Eaton were worth $278,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Eaton during the fourth quarter worth $1,495,582,000. Capital International Investors purchased a new stake in shares of Eaton in the fourth quarter worth about $523,541,000. Proficio Capital Partners LLC grew its holdings in Eaton by 42,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock valued at $243,036,000 after purchasing an additional 730,594 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Eaton by 390.7% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company's stock valued at $193,421,000 after buying an additional 429,701 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after buying an additional 368,241 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

ETN stock traded down $1.33 during trading hours on Tuesday, hitting $327.96. 1,654,467 shares of the stock were exchanged, compared to its average volume of 2,661,322. The firm has a market capitalization of $128.33 billion, a P/E ratio of 34.52, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a 50-day simple moving average of $288.15 and a two-hundred day simple moving average of $319.43.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.40 EPS. On average, analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.27%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the transaction, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ETN. Evercore ISI raised 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. Citigroup lifted their target price on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Jefferies Financial Group reduced their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Royal Bank of Canada raised their price target on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $355.00 price objective on shares of Eaton in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $367.83.

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.