Neville Rodie & Shaw Inc. Sells 14,308 Shares of Eaton Corporation, PLC $ETN

Key Points

• Neville Rodie & Shaw Inc. cut its Eaton (ETN) stake by 37.8% in Q4, selling 14,308 shares and leaving it with 23,501 shares valued at about $7.485 million.
• Insider Sternadt Paulo Ruiz sold 10,707 shares at an average $390.26 (≈$4.18M), reducing their ownership by about 27.9% and leaving them with 27,729 shares; company insiders hold roughly 0.30% of ETN.
• Eaton raised its quarterly dividend to $1.10 (from $1.04), an annualized $4.40 with an ex-dividend date of March 10 and a yield of about 1.2%.

Neville Rodie & Shaw Inc. reduced its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 37.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,501 shares of the industrial products company's stock after selling 14,308 shares during the quarter. Neville Rodie & Shaw Inc.'s holdings in Eaton were worth $7,485,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. WFA of San Diego LLC acquired a new stake in shares of Eaton during the 2nd quarter worth approximately $36,000. Imprint Wealth LLC acquired a new position in shares of Eaton during the 3rd quarter valued at $39,000. Redmont Wealth Advisors LLC acquired a new position in shares of Eaton during the 3rd quarter valued at $40,000. Grey Fox Wealth Advisors LLC bought a new position in Eaton during the third quarter worth $70,000. Finally, Cloud Capital Management LLC acquired a new stake in Eaton in the third quarter worth $72,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eaton

In related news, insider Sternadt Paulo Ruiz sold 10,707 shares of the company's stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $390.26, for a total transaction of $4,178,513.82. Following the completion of the sale, the insider owned 27,729 shares in the company, valued at approximately $10,821,519.54. This represents a 27.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.30% of the company's stock.

Eaton Trading Down 0.2%

NYSE:ETN opened at $360.00 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 0.81. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $408.45. The company has a market cap of $139.67 billion, a PE ratio of 34.42, a PEG ratio of 2.48 and a beta of 1.17. The firm has a 50-day moving average of $358.68 and a 200-day moving average of $355.54.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The industrial products company reported $3.23 earnings per share for the quarter. Eaton had a net margin of 14.89% and a return on equity of 25.00%. As a group, equities research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Eaton's previous quarterly dividend of $1.04. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. Eaton's payout ratio is presently 42.07%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ETN shares. Sanford C. Bernstein reiterated an "outperform" rating on shares of Eaton in a report on Tuesday, January 27th. UBS Group reaffirmed a "neutral" rating and issued a $360.00 target price (down from $440.00) on shares of Eaton in a research report on Sunday, January 4th. Morgan Stanley reaffirmed an "overweight" rating and set a $425.00 price target on shares of Eaton in a research note on Wednesday, February 4th. Wolfe Research upgraded Eaton from a "peer perform" rating to an "outperform" rating and set a $413.00 price target on the stock in a report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. decreased their price objective on Eaton from $440.00 to $406.00 and set an "overweight" rating for the company in a report on Friday, January 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $395.11.

Eaton Profile

Eaton NYSE: ETN is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company's offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.

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