Texas Yale Capital Corp. Sells 1,780 Shares of Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Texas Yale Capital Corp. decreased its holdings in Eaton Corporation by 34.3%, selling 1,780 shares to end up with 3,409 shares valued at $927,000.
• Eaton reported quarterly earnings of $2.72 per share, exceeding analysts' expectations, and had revenue of $6.38 billion for the quarter, marking a 7.3% increase year-over-year.
• The company recently declared a quarterly dividend of $1.04 per share, with a yield of 1.06% and a payout ratio of 41.98%.

Texas Yale Capital Corp. lowered its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 34.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,409 shares of the industrial products company's stock after selling 1,780 shares during the period. Texas Yale Capital Corp.'s holdings in Eaton were worth $927,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its holdings in shares of Eaton by 1.2% in the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock valued at $5,051,807,000 after acquiring an additional 182,455 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Eaton by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock valued at $2,714,677,000 after acquiring an additional 129,071 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Eaton by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock valued at $1,550,226,000 after acquiring an additional 192,482 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Eaton by 8.8% in the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after acquiring an additional 368,241 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Eaton by 27,281.9% in the first quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after acquiring an additional 3,580,198 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Transactions at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider owned 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 transaction 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 firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider owned 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock worth $49,622,894 in the last 90 days. Company insiders own 0.30% of the company's stock.

Eaton Trading Up 1.9%

Shares of ETN stock opened at $392.29 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $393.07. The company has a market capitalization of $153.50 billion, a PE ratio of 39.59, a price-to-earnings-growth ratio of 2.96 and a beta of 1.17. The business's fifty day moving average is $344.57 and its 200 day moving average is $315.82.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the business posted $2.40 earnings per share. The firm's revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $4.16 dividend on an annualized basis and a yield of 1.06%. Eaton's payout ratio is 41.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ETN shares. JPMorgan Chase & Co. upped their target price on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Wells Fargo & Company increased their price objective on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. BNP Paribas initiated coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Finally, KeyCorp increased their price objective on Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $377.89.

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.

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