Quaero Capital S.A. Sells 1,489 Shares of Eaton Corporation, PLC (NYSE:ETN)

Quaero Capital S.A. lowered its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 14.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,599 shares of the industrial products company's stock after selling 1,489 shares during the quarter. Eaton accounts for 3.3% of Quaero Capital S.A.'s holdings, making the stock its 3rd biggest position. Quaero Capital S.A.'s holdings in Eaton were worth $2,337,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Capital A Wealth Management LLC acquired a new position in Eaton during the fourth quarter worth $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton during the 4th quarter worth about $27,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the fourth quarter valued at about $30,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Eaton during the fourth quarter worth about $33,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ETN. Jefferies Financial Group lowered their price target on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. BNP Paribas Exane started coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Evercore ISI lifted their price objective on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $355.00 price objective on shares of Eaton in a research note on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $368.78.

Insider Activity

In other Eaton news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction that occurred 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 sale, the insider now owns 490,208 shares in the company, valued at $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by company insiders.

Eaton Stock Performance

ETN stock traded up $5.60 during trading hours on Friday, hitting $353.74. 3,704,268 shares of the stock were exchanged, compared to its average volume of 2,664,417. The company has a 50-day simple moving average of $316.32 and a two-hundred day simple moving average of $312.86. The firm has a market capitalization of $138.42 billion, a P/E ratio of 35.70, a P/E/G ratio of 2.65 and a beta of 1.16. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $379.99. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

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

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $1.04 per share. 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 1.18%. Eaton's dividend payout ratio (DPR) is presently 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.