Eaton Co. plc (NYSE:ETN) Shares Sold by Terra Alpha Investments LLC

Terra Alpha Investments LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 7.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,312 shares of the industrial products company's stock after selling 1,194 shares during the period. Eaton accounts for about 4.2% of Terra Alpha Investments LLC's investment portfolio, making the stock its 11th largest position. Terra Alpha Investments LLC's holdings in Eaton were worth $3,890,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ETN. Capital A Wealth Management LLC purchased a new position in shares of Eaton during the 4th quarter worth $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter valued at $27,000. Noble Wealth Management PBC purchased a new position in Eaton during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Eaton in the 4th quarter worth about $33,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Eaton in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Up 1.3%

NYSE ETN traded up $4.38 during mid-day trading on Thursday, reaching $330.09. 1,777,074 shares of the company's stock traded hands, compared to its average volume of 2,639,778. The company has a fifty day simple moving average of $301.79 and a 200-day simple moving average of $315.72. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a market cap of $129.16 billion, a price-to-earnings ratio of 34.75, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating 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 firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.40 earnings per share. As a group, equities research analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The company 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. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio is presently 41.98%.

Analysts Set New Price Targets

ETN has been the subject of a number of recent analyst reports. Barclays boosted their target price on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a report on Monday. Jefferies Financial Group lowered their price target on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Royal Bank of Canada raised their price objective on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Wells Fargo & Company reiterated an "overweight" rating and set a $355.00 target price on shares of Eaton in a report on Monday, May 5th. Finally, BNP Paribas Exane assumed coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $368.78.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. This trade 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 through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the sale, the insider now owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

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.