Lbp Am Sa Decreases Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

LBP AM SA lessened its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 26.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,799 shares of the industrial products company's stock after selling 18,512 shares during the period. LBP AM SA's holdings in Eaton were worth $14,352,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in Eaton in the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC bought a new stake in Eaton in the 4th quarter worth about $27,000. Creative Financial Designs Inc. ADV grew its position in Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Eaton in the 4th quarter worth about $33,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Eaton in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ETN. BNP Paribas began coverage on shares of Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. Morgan Stanley reduced their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Wells Fargo & Company increased their target price on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group increased their target price on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research report on Tuesday. 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 fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $370.63.

Eaton Price Performance

NYSE:ETN traded up $2.84 during trading hours on Wednesday, hitting $359.82. The stock had a trading volume of 1,196,560 shares, compared to its average volume of 2,661,753. The company has a 50 day simple moving average of $329.10 and a two-hundred day simple moving average of $313.08. 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 one year low of $231.85 and a one year high of $379.99. The firm has a market capitalization of $140.80 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 2.70 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the firm posted $2.40 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. Research analysts forecast 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. Investors of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is presently 41.98%.

Insiders Place Their Bets

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business'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 owned 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction that occurred on 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 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. In the last quarter, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by corporate insiders.

About Eaton

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.