Eaton Co. plc (NYSE:ETN) Position Cut by UMB Bank n.a.

UMB Bank n.a. lessened its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 26.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 106,024 shares of the industrial products company's stock after selling 38,985 shares during the period. UMB Bank n.a.'s holdings in Eaton were worth $28,821,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on 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 transaction, the insider now owns 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Yelton sold 2,120 shares of the company'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 sale, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This trade represents a 38.53% 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 worth $49,622,894. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ETN. Barclays raised their price objective on Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research note on Monday. KeyCorp increased their price objective on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Jefferies Financial Group dropped their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Evercore ISI raised their price target on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Finally, Royal Bank of Canada boosted their price target on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton Stock Down 1.8%

Eaton stock traded down $5.84 during trading on Monday, reaching $325.61. The stock had a trading volume of 1,621,730 shares, compared to its average volume of 2,645,508. The stock has a market cap of $127.41 billion, a PE ratio of 34.27, a P/E/G ratio of 2.64 and a beta of 1.16. The business has a 50 day moving average price of $298.11 and a 200 day moving average price of $315.95. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data 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 company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. Eaton's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.40 earnings per share. On average, analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio is currently 41.98%.

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.