Roundview Capital LLC reduced its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,733 shares of the industrial products company's stock after selling 2,746 shares during the period. Roundview Capital LLC's holdings in Eaton were worth $2,374,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Checchi Capital Advisers LLC grew its stake in shares of Eaton by 0.7% in the 1st quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock valued at $1,378,000 after buying an additional 37 shares during the period. Lantern Wealth Advisors LLC grew its stake in shares of Eaton by 1.0% in the 4th quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock valued at $1,340,000 after buying an additional 38 shares during the period. AGH Wealth Advisors LLC grew its stake in shares of Eaton by 2.6% in the 1st quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock valued at $412,000 after buying an additional 38 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Eaton by 4.2% in the 1st quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock valued at $259,000 after buying an additional 38 shares during the period. Finally, Tritonpoint Wealth LLC grew its stake in shares of Eaton by 3.9% in the 1st quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company's stock valued at $282,000 after buying an additional 39 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.
Eaton Price Performance
NYSE:ETN traded up $4.86 during midday trading on Thursday, hitting $385.10. The company had a trading volume of 1,658,805 shares, compared to its average volume of 2,048,134. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $386.17. The stock's fifty day moving average price is $343.32 and its 200-day moving average price is $315.89. The company has a market capitalization of $150.69 billion, a PE ratio of 38.86, a P/E/G ratio of 2.87 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.
Eaton (NYSE:ETN - Get Free Report) last announced its 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 during the quarter, compared to analyst estimates of $6.26 billion. During the same period in the previous year, the business earned $2.40 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.
Eaton Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be given a $1.04 dividend. The ex-dividend date is Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.08%. Eaton's dividend payout ratio (DPR) is presently 41.98%.
Insider Buying and Selling at Eaton
In other Eaton news, insider Craig Arnold sold 103,486 shares of the company's 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 completion of the sale, the insider directly owned 490,208 shares in the company, valued at $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the company's 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 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 quarter. 0.30% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
ETN has been the subject of several research reports. The Goldman Sachs Group raised their target price on Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. BNP Paribas Exane initiated coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. BNP Paribas initiated coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Morgan Stanley cut their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company lifted their price target on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $377.89.
Get Our Latest Research Report on Eaton
Eaton Company Profile
(
Free Report)
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.
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