Mutual of America Capital Management LLC Reduces Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

Mutual of America Capital Management LLC reduced its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 2.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,966 shares of the industrial products company's stock after selling 1,385 shares during the period. Mutual of America Capital Management LLC's holdings in Eaton were worth $12,495,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Capital A Wealth Management LLC purchased a new stake in Eaton in the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton during the 4th quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV boosted its holdings 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 buying an additional 51 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in Eaton in the 4th quarter valued at approximately $33,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Eaton during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ETN shares. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Royal Bank Of Canada lifted their target price on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Morgan Stanley lowered their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $396.00 target price on shares of Eaton in a research note on Monday. Six 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $375.00.

Eaton Price Performance

Shares of ETN traded down $0.30 during midday trading on Monday, reaching $360.32. The stock had a trading volume of 1,179,632 shares, compared to its average volume of 3,127,371. 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 $140.99 billion, a price-to-earnings ratio of 36.36, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17. The company's 50-day moving average is $332.74 and its 200 day moving average is $313.29. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $2.40 earnings per share. On average, equities analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal 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 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 1.15%. Eaton's payout ratio is 41.98%.

Insider Buying and Selling

In other news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider owned 3,382 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction 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 directly owned 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 over the last ninety days. Insiders own 0.30% of the company's stock.

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.