Eaton Corporation, PLC (NYSE:ETN) Shares Sold by Gries Financial LLC

Gries Financial LLC trimmed its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 13.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,627 shares of the industrial products company's stock after selling 1,547 shares during the quarter. Gries Financial LLC's holdings in Eaton were worth $2,617,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Brighton Jones LLC raised its holdings in Eaton by 1.4% during the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after purchasing an additional 45 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after acquiring an additional 136 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in Eaton during the fourth quarter valued at approximately $42,839,000. Proficio Capital Partners LLC grew its holdings 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 valued at $732,000 after purchasing an additional 478 shares during the last quarter. Finally, AXQ Capital LP bought a new position in Eaton in the 4th quarter worth approximately $319,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETN has been the subject of several research reports. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. KeyCorp lifted their price objective on Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Wells Fargo & Company boosted their target price on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. upped their target price on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Morgan Stanley reduced their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $377.89.

Eaton Stock Performance

Shares of ETN stock traded down $4.91 during trading on Monday, reaching $373.71. 2,444,913 shares of the company's stock traded hands, compared to its average volume of 2,667,381. The firm's 50-day moving average is $339.29 and its 200 day moving average is $314.57. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $146.23 billion, a P/E ratio of 34.05, a PEG ratio of 2.86 and a beta of 1.17. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $384.51.

Eaton (NYSE:ETN - Get Free Report) last released 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. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the firm earned $2.40 EPS. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current 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 given a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.11%. Eaton's dividend payout ratio (DPR) is 41.98%.

Insider Activity at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the business's 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 of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the firm'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 completion of the transaction, the insider directly owned 490,208 shares in the company, valued at $158,214,632. This represents a 17.43% 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 90 days. 0.30% of the stock is currently owned by company insiders.

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.