Los Angeles Capital Management LLC Lowers Position in Eaton Corporation, PLC (NYSE:ETN)

Los Angeles Capital Management LLC lessened its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 23.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 211,296 shares of the industrial products company's stock after selling 63,531 shares during the period. Los Angeles Capital Management LLC owned approximately 0.05% of Eaton worth $57,437,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ETN. Capital A Wealth Management LLC bought a new position in Eaton during the fourth quarter valued at $26,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Eaton by 102.0% in the first 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 during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the fourth quarter worth about $33,000. Vermillion Wealth Management Inc. bought a new position in shares of Eaton in the fourth quarter worth about $33,000. Finally, Abound Wealth Management grew its holdings in shares of Eaton by 73.8% in the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Activity at Eaton

In other news, insider Craig Arnold sold 103,486 shares of the company's 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 transaction, the insider directly owned 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the 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 completion of the transaction, the insider owned 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ETN shares. Citigroup increased their price objective on shares of Eaton from $351.00 to $420.00 and gave the company a "buy" rating in a research report on Monday, July 14th. KeyCorp raised their price target on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Barclays raised their price target on shares of Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Morgan Stanley dropped their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Eaton has a consensus rating of "Moderate Buy" and an average price target of $377.89.

Eaton Trading Down 0.5%

Shares of NYSE ETN opened at $378.89 on Friday. The company has a market cap of $148.26 billion, a price-to-earnings ratio of 38.23, a price-to-earnings-growth ratio of 2.86 and a beta of 1.17. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $384.51. 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 stock's 50 day simple moving average is $339.29 and its 200 day simple moving average is $314.69.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.40 EPS. Equities research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed 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 of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.10%. Eaton's dividend payout ratio is presently 41.98%.

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.

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