Eaton Co. plc (NYSE:ETN) Shares Sold by Selway Asset Management

Selway Asset Management decreased its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 79.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,100 shares of the industrial products company's stock after selling 8,000 shares during the period. Selway Asset Management's holdings in Eaton were worth $571,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC lifted its stake in Eaton by 1.4% in the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after purchasing an additional 45 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after purchasing an additional 136 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Eaton by 9.1% in the fourth quarter. Chicago Partners Investment Group LLC now owns 3,357 shares of the industrial products company's stock worth $1,159,000 after purchasing an additional 279 shares during the last quarter. SYM FINANCIAL Corp lifted its stake in Eaton by 14.8% in the fourth quarter. SYM FINANCIAL Corp now owns 775 shares of the industrial products company's stock worth $257,000 after purchasing an additional 100 shares during the last quarter. Finally, Spire Wealth Management lifted its stake in Eaton by 0.5% in the fourth quarter. Spire Wealth Management now owns 10,624 shares of the industrial products company's stock worth $3,526,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ETN shares. Royal Bank of Canada raised their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. KeyCorp raised their target price on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Morgan Stanley reduced their target price 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. Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a research report on Sunday, May 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $367.83.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 51,054 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the transaction, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction on 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 now 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 disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 over the last three months. 0.30% of the stock is currently owned by insiders.

Eaton Stock Up 1.6%

NYSE ETN traded up $5.23 on Friday, hitting $331.71. The stock had a trading volume of 2,206,422 shares, compared to its average volume of 2,648,581. The business's fifty day moving average price is $298.11 and its 200 day moving average price is $316.64. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The stock has a market cap of $129.80 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.40 earnings per share. Equities research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 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.