Scissortail Wealth Management LLC Sells 757 Shares of Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Scissortail Wealth Management LLC has reduced its stake in Eaton Corporation by 4.7%, now holding 15,344 shares valued at approximately $4.17 million as of the latest SEC filing.
• Multiple investment analysts have rated Eaton stock positively, with target prices ranging from $344.00 to $425.00, reflecting a general consensus of a "Moderate Buy."
• Eaton recently announced a quarterly dividend of $1.04 per share, with a dividend yield of 1.1% and a payout ratio of 41.85%.

Scissortail Wealth Management LLC cut its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,344 shares of the industrial products company's stock after selling 757 shares during the period. Scissortail Wealth Management LLC's holdings in Eaton were worth $4,171,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of Eaton by 0.7% during the 1st quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock worth $3,593,000 after buying an additional 96 shares in the last quarter. Bearing Point Capital LLC acquired a new position in shares of Eaton during the fourth quarter worth approximately $2,713,000. Brighton Jones LLC raised its position in shares of Eaton by 4.9% during the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock worth $953,000 after purchasing an additional 164 shares during the period. Kennebec Savings Bank raised its position in shares of Eaton by 5.4% during the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock worth $738,000 after purchasing an additional 139 shares during the period. Finally, American National Bank & Trust raised its position in shares of Eaton by 5.4% during the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after purchasing an additional 162 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Eaton news, insider Olivier Leonetti sold 16,018 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $358.39, for a total value of $5,740,691.02. Following the completion of the transaction, the insider owned 630 shares in the company, valued at $225,785.70. This trade represents a 96.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

ETN traded down $1.98 during trading hours on Thursday, hitting $355.52. The stock had a trading volume of 1,225,304 shares, compared to its average volume of 3,061,479. The company's fifty day simple moving average is $357.16 and its 200 day simple moving average is $318.17. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56. The stock has a market cap of $138.40 billion, a PE ratio of 35.75, a price-to-earnings-growth ratio of 2.68 and a beta of 1.18. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.03. Eaton had a return on equity of 23.91% and a net margin of 15.11%. The company had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm posted $2.73 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be paid a $1.04 dividend. The ex-dividend date is Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.2%. Eaton's dividend payout ratio (DPR) is currently 41.85%.

Analysts Set New Price Targets

ETN has been the topic of a number of research reports. Wall Street Zen lowered Eaton from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Citigroup upped their target price on Eaton from $420.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. upped their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Finally, Evercore ISI increased their price target on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and a consensus price target of $383.63.

Eaton Company 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.