Transcend Capital Advisors LLC Sells 3,189 Shares of Eaton Corporation, PLC $ETN

Key Points

• Transcend Capital Advisors trimmed its Eaton stake by 28.5% in Q4, selling 3,189 shares and retaining 7,985 shares valued at about $2.543 million.
• Analysts overall rate ETN a Moderate Buy with a consensus price target of $396.50, though individual targets recently ranged roughly from $340 to $464 as firms adjusted ratings.
• Eaton raised its quarterly dividend to $1.10 (annualized $4.40, ~1.1% yield) and reported quarterly EPS of $3.23 on $7.06 billion in revenue, with a market cap near $156 billion.

Transcend Capital Advisors LLC trimmed its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 28.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,985 shares of the industrial products company's stock after selling 3,189 shares during the period. Transcend Capital Advisors LLC's holdings in Eaton were worth $2,543,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. SG Americas Securities LLC lifted its stake in Eaton by 438.9% during the fourth quarter. SG Americas Securities LLC now owns 364,877 shares of the industrial products company's stock worth $116,217,000 after purchasing an additional 297,166 shares during the period. Fayez Sarofim & Co lifted its stake in Eaton by 3.4% during the third quarter. Fayez Sarofim & Co now owns 1,256,177 shares of the industrial products company's stock worth $474,444,000 after purchasing an additional 40,792 shares during the period. Bartlett & CO. Wealth Management LLC lifted its stake in Eaton by 9.2% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 238,030 shares of the industrial products company's stock worth $75,815,000 after purchasing an additional 19,958 shares during the period. Williams Jones Wealth Management LLC. lifted its stake in Eaton by 3.3% during the third quarter. Williams Jones Wealth Management LLC. now owns 515,587 shares of the industrial products company's stock worth $192,958,000 after purchasing an additional 16,422 shares during the period. Finally, Mediolanum International Funds Ltd lifted its stake in Eaton by 14.2% during the third quarter. Mediolanum International Funds Ltd now owns 121,162 shares of the industrial products company's stock worth $44,485,000 after purchasing an additional 15,048 shares during the period. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ETN shares. Jefferies Financial Group started coverage on shares of Eaton in a research report on Monday, March 16th. They set a "buy" rating and a $430.00 target price for the company. Citigroup increased their target price on shares of Eaton from $435.00 to $464.00 and gave the stock a "buy" rating in a research report on Monday. Barclays dropped their target price on shares of Eaton from $354.00 to $340.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 1st. UBS Group reissued a "neutral" rating and set a $360.00 price objective (down from $440.00) on shares of Eaton in a report on Sunday, January 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Eaton from $440.00 to $406.00 and set an "overweight" rating on the stock in a report on Friday, January 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $396.50.

Eaton Stock Down 0.0%

ETN stock opened at $402.80 on Tuesday. The stock has a market capitalization of $156.28 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. The company has a current ratio of 1.32, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. Eaton Corporation, PLC has a 12 month low of $255.10 and a 12 month high of $408.45. The firm has a 50-day moving average price of $369.27 and a 200-day moving average price of $356.55.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The industrial products company reported $3.23 earnings per share (EPS) for the quarter. The firm had revenue of $7.06 billion during the quarter. Eaton had a net margin of 14.89% and a return on equity of 25.00%. As a group, equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th were given a $1.10 dividend. This is an increase from Eaton's previous quarterly dividend of $1.04. The ex-dividend date was Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.1%. Eaton's dividend payout ratio is presently 42.07%.

Insider Activity

In other news, insider Sternadt Paulo Ruiz sold 10,707 shares of Eaton stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $390.26, for a total value of $4,178,513.82. Following the completion of the sale, the insider owned 27,729 shares in the company, valued at $10,821,519.54. The trade was a 27.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.10% of the company's stock.

Eaton Company Profile

Eaton NYSE: ETN is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company's offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.

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