Parcion Private Wealth LLC Sells 25,605 Shares of Eaton Corporation, PLC (NYSE:ETN)

Parcion Private Wealth LLC lowered its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 89.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,032 shares of the industrial products company's stock after selling 25,605 shares during the quarter. Parcion Private Wealth LLC's holdings in Eaton were worth $824,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Eaton by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock valued at $12,351,506,000 after buying an additional 99,291 shares during the last quarter. FMR LLC increased its stake in Eaton by 1.2% in the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock valued at $5,051,807,000 after buying an additional 182,455 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Eaton by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock worth $2,714,677,000 after purchasing an additional 129,071 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Eaton by 4.3% during the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after purchasing an additional 192,482 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after purchasing an additional 368,241 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Transactions at Eaton

In other news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated 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 sale, the insider directly owned 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock worth $49,622,894 in the last 90 days. Corporate insiders own 0.30% of the company's stock.

Eaton Price Performance

Shares of NYSE ETN traded down $1.83 during mid-day trading on Friday, reaching $378.89. 2,941,019 shares of the company were exchanged, compared to its average volume of 2,666,753. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $384.51. 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 stock has a market capitalization of $148.26 billion, a PE ratio of 38.23, a PEG ratio of 2.87 and a beta of 1.17. The company's 50 day moving average price is $339.29 and its 200 day moving average price is $314.81.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results 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 analysts' expectations of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.40 EPS. Sell-side analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is 41.98%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein restated an "outperform" rating and set a $396.00 price target on shares of Eaton in a research note on Monday, July 14th. BNP Paribas Exane began coverage on shares of Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. The Goldman Sachs Group raised their price objective on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada raised their price objective on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Finally, Barclays raised their price objective on shares of Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $377.89.

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.