Yousif Capital Management LLC Cuts Holdings in Eaton Co. plc (NYSE:ETN)

Yousif Capital Management LLC lowered its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,288 shares of the industrial products company's stock after selling 2,856 shares during the period. Yousif Capital Management LLC's holdings in Eaton were worth $12,039,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bearing Point Capital LLC purchased a new position in shares of Eaton in the fourth quarter worth about $2,713,000. Strategic Financial Concepts LLC purchased a new position in shares of Eaton in the fourth quarter worth about $38,000. Kennebec Savings Bank increased its holdings in shares of Eaton by 5.4% in the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock worth $738,000 after buying an additional 139 shares during the period. American National Bank & Trust increased its holdings in Eaton by 5.4% during the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock valued at $855,000 after purchasing an additional 162 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Eaton by 46.9% during the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,365 shares of the industrial products company's stock valued at $1,117,000 after purchasing an additional 1,074 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Stock Up 1.3%

Shares of Eaton stock traded up $4.38 during midday trading on Thursday, hitting $330.09. The company had a trading volume of 1,777,259 shares, compared to its average volume of 2,643,607. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $129.16 billion, a P/E ratio of 34.75, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a 50 day moving average of $303.34 and a 200 day moving average of $315.40. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99.

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 for the quarter, topping the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.40 EPS. On average, equities analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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 was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.26%. Eaton's payout ratio is currently 41.98%.

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 stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the sale, the insider now owns 489,444 shares in the company, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their ownership of the stock. 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.

Analyst Upgrades and Downgrades

A number of research firms have commented on ETN. Barclays upped their price target on Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research report on Monday. BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Wells Fargo & Company reaffirmed an "overweight" rating and set a $355.00 price target on shares of Eaton in a research report on Monday, May 5th. KeyCorp upped their price target on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. upped their price target on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $368.78.

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.