Nisa Investment Advisors LLC Sells 6,072 Shares of Eaton Corporation, PLC (NYSE:ETN)

Nisa Investment Advisors LLC lessened its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 4.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 129,889 shares of the industrial products company's stock after selling 6,072 shares during the quarter. Nisa Investment Advisors LLC's holdings in Eaton were worth $35,308,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Eaton by 1.4% during the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after purchasing an additional 45 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Eaton by 17.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after purchasing an additional 136 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in shares of Eaton during the fourth quarter worth $42,839,000. Proficio Capital Partners LLC raised its position in shares of Eaton by 27.6% during the fourth quarter. Proficio Capital Partners LLC now owns 2,207 shares of the industrial products company's stock worth $732,000 after purchasing an additional 478 shares during the period. Finally, Edgestream Partners L.P. raised its position in shares of Eaton by 30.2% during the fourth quarter. Edgestream Partners L.P. now owns 3,019 shares of the industrial products company's stock worth $1,002,000 after purchasing an additional 701 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Insiders Place Their Bets

In other Eaton news, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated 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 directly owned 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the sale, the insider owned 490,208 shares of the company's stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays boosted their target price on Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Evercore ISI upped their price target on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Royal Bank Of Canada upped their price target on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. BNP Paribas Exane began coverage on shares of Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Finally, 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 target price for the company. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Eaton has a consensus rating of "Moderate Buy" and an average target price of $370.63.

Eaton Trading Up 0.8%

Eaton stock traded up $3.03 during trading hours on Friday, hitting $360.67. The stock had a trading volume of 1,697,991 shares, compared to its average volume of 2,667,505. The stock has a market cap of $141.13 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 2.71 and a beta of 1.17. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The business's 50 day simple moving average is $331.52 and its 200-day simple moving average is $313.54. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the firm posted $2.40 earnings per share. The firm's revenue was up 7.3% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.15%. Eaton's payout ratio is 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.