Jefferies Financial Group Inc. lowered its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 53.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,638 shares of the industrial products company's stock after selling 7,604 shares during the period. Jefferies Financial Group Inc.'s holdings in Eaton were worth $2,203,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Eaton by 1.4% in the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after acquiring an additional 45 shares in the last quarter. KBC Group NV grew its stake in Eaton by 16.2% in the fourth quarter. KBC Group NV now owns 66,296 shares of the industrial products company's stock valued at $22,002,000 after purchasing an additional 9,252 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Eaton by 7.1% in the fourth quarter. Pacer Advisors Inc. now owns 31,622 shares of the industrial products company's stock worth $10,494,000 after purchasing an additional 2,110 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its position in shares of Eaton by 1.6% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 2,999 shares of the industrial products company's stock valued at $995,000 after buying an additional 46 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its holdings in shares of Eaton by 105.6% in the 4th quarter. Foundations Investment Advisors LLC now owns 3,763 shares of the industrial products company's stock valued at $1,249,000 after buying an additional 1,933 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.
Eaton Stock Performance
Shares of ETN traded down $4.46 during trading hours on Friday, hitting $320.35. The stock had a trading volume of 3,787,956 shares, compared to its average volume of 2,670,431. The firm has a market capitalization of $125.35 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a 50-day moving average price of $293.29 and a 200 day moving average price of $317.53. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. Eaton's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 EPS. As a group, research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.
Eaton Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.30%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is presently 41.98%.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Barclays decreased their price objective on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Wells Fargo & Company restated an "overweight" rating and set a $355.00 target price on shares of Eaton in a research note on Monday, May 5th. Citigroup upped their target price on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, KeyCorp raised their price target on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.83.
Check Out Our Latest Analysis on ETN
Insider Buying and Selling at Eaton
In other news, insider Michael Yelton sold 2,120 shares of the company'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 value of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now owns 489,444 shares in the company, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 over the last ninety days. Corporate insiders own 0.30% of the company's stock.
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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