Sawyer & Company Inc Sells 895 Shares of Eaton Corporation, PLC (NYSE:ETN)

Sawyer & Company Inc lessened its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,078 shares of the industrial products company's stock after selling 895 shares during the period. Eaton comprises 1.3% of Sawyer & Company Inc's portfolio, making the stock its 29th largest holding. Sawyer & Company Inc's holdings in Eaton were worth $3,283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new position in shares of Eaton in the fourth quarter worth approximately $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton in the fourth quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the fourth quarter worth approximately $33,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Eaton in the fourth quarter worth approximately $33,000. Institutional investors own 82.97% of the company's stock.

Eaton Stock Down 1.1%

Shares of ETN stock opened at $331.34 on Friday. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $379.99. The stock has a market cap of $129.65 billion, a P/E ratio of 33.43, a P/E/G ratio of 2.60 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The company has a 50 day simple moving average of $310.79 and a two-hundred day simple moving average of $313.66.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 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 business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the prior year, the company earned $2.40 earnings per share. The firm's revenue was up 7.3% on a year-over-year basis. On average, research analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. Eaton's dividend payout ratio is currently 41.98%.

Analyst Upgrades and Downgrades

ETN has been the topic of several analyst reports. KeyCorp upped their target price on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Wells Fargo & Company restated an "overweight" rating and set a $355.00 price objective on shares of Eaton in a research report on Monday, May 5th. Morgan Stanley lowered their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. BNP Paribas began coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research report on Sunday, May 18th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $368.78.

Insider Transactions at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now directly owns 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 490,208 shares of the company's stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 over the last three months. Corporate insiders own 0.30% of the company's stock.

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.

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