Penserra Capital Management LLC Sells 913 Shares of Eaton Corporation, PLC (NYSE:ETN)

Penserra Capital Management LLC decreased its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 32.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,944 shares of the industrial products company's stock after selling 913 shares during the period. Penserra Capital Management LLC's holdings in Eaton were worth $527,000 as of its most recent SEC filing.

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

Insider Activity

In other news, 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 approximately $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays upped their price target on shares of Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a research report on Wednesday. BNP Paribas assumed coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. KeyCorp raised their price objective on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. The Goldman Sachs Group raised their price objective on Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Evercore ISI raised their price objective on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $370.63.

Eaton Stock Performance

NYSE:ETN traded up $3.03 during midday trading on Friday, reaching $360.67. The stock had a trading volume of 1,697,991 shares, compared to its average volume of 2,674,048. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $379.99. The firm's fifty day simple moving average is $332.74 and its 200-day simple moving average is $313.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The stock has a market capitalization of $141.13 billion, a P/E ratio of 36.39, a PEG ratio of 2.72 and a beta of 1.17.

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

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders 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 dividend yield of 1.15%. Eaton's dividend payout ratio (DPR) is currently 41.98%.

Eaton 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.