Stonebrook Private Inc. Sells 860 Shares of Eaton Co. plc (NYSE:ETN)

Stonebrook Private Inc. trimmed its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,208 shares of the industrial products company's stock after selling 860 shares during the period. Eaton makes up 1.6% of Stonebrook Private Inc.'s portfolio, making the stock its 17th biggest holding. Stonebrook Private Inc.'s holdings in Eaton were worth $6,043,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Strategic Wealth Partners Ltd. boosted its holdings in Eaton by 16.3% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 1,194 shares of the industrial products company's stock valued at $368,000 after acquiring an additional 167 shares during the period. Scientech Research LLC boosted its holdings in Eaton by 202.4% during the fourth quarter. Scientech Research LLC now owns 3,435 shares of the industrial products company's stock valued at $1,140,000 after acquiring an additional 2,299 shares during the period. Sculptor Capital LP boosted its holdings in Eaton by 11.1% during the fourth quarter. Sculptor Capital LP now owns 20,000 shares of the industrial products company's stock valued at $6,637,000 after acquiring an additional 2,000 shares during the period. Scissortail Wealth Management LLC boosted its holdings in Eaton by 4,049.7% during the fourth quarter. Scissortail Wealth Management LLC now owns 16,101 shares of the industrial products company's stock valued at $5,343,000 after acquiring an additional 15,713 shares during the period. Finally, Siemens Fonds Invest GmbH boosted its holdings in Eaton by 439.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 28,504 shares of the industrial products company's stock valued at $9,543,000 after acquiring an additional 23,224 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 490,208 shares in the company, valued at $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. Over the last ninety days, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ETN shares. StockNews.com upgraded shares of Eaton from a "hold" rating to a "buy" rating in a report on Sunday. Jefferies Financial Group cut their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Barclays cut their price objective on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. Evercore ISI cut their price objective on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Finally, BNP Paribas Exane initiated coverage on shares of Eaton in a research report on Thursday. They set an "outperform" rating and a $380.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $366.56.

Eaton Price Performance

Shares of Eaton stock opened at $329.40 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $128.89 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The firm's 50-day moving average price is $287.40 and its two-hundred day moving average price is $319.55.

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

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. The ex-dividend date is Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.26%. Eaton's dividend 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.

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