Two Sigma Investments LP Sells 18,521 Shares of Eaton Co. plc (NYSE:ETN)

Two Sigma Investments LP decreased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 66.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,447 shares of the industrial products company's stock after selling 18,521 shares during the period. Two Sigma Investments LP's holdings in Eaton were worth $3,135,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton in the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton in the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Eaton in the fourth quarter worth about $33,000. Activest Wealth Management increased its holdings in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock worth $34,000 after buying an additional 87 shares during the period. Finally, Knuff & Co LLC purchased a new position in shares of Eaton in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on ETN. BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. BNP Paribas began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. KeyCorp raised their target price on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Jefferies Financial Group cut their target price on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $355.00 target price on shares of Eaton in a research note on Monday, May 5th. Five investment 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, the company has an average rating of "Moderate Buy" and a consensus price target of $367.83.

Insider Buying and Selling

In related news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction that occurred on 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 sale, the insider now owns 489,444 shares in the company, valued at $149,490,880.92. The trade was a 9.45% 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. Insiders own 0.30% of the company's stock.

Eaton Stock Down 1.4%

Shares of ETN stock traded down $4.46 during midday trading on Friday, reaching $320.35. 3,787,956 shares of the stock were exchanged, compared to its average volume of 2,670,431. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The company's 50 day moving average is $293.29 and its two-hundred day moving average is $317.53. 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 firm has a market cap of $125.35 billion, a PE ratio of 33.72, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.30%. Eaton's payout ratio is currently 41.98%.

About Eaton

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.