Eaton Co. plc (NYSE:ETN) Shares Sold by Dover Advisors LLC

Dover Advisors LLC cut its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 24.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,268 shares of the industrial products company's stock after selling 2,683 shares during the period. Eaton comprises approximately 2.6% of Dover Advisors LLC's holdings, making the stock its 7th largest holding. Dover Advisors LLC's holdings in Eaton were worth $1,991,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Avior Wealth Management LLC lifted its holdings in Eaton by 69.5% during the third quarter. Avior Wealth Management LLC now owns 222 shares of the industrial products company's stock worth $47,000 after acquiring an additional 91 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in Eaton by 14.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 13,122 shares of the industrial products company's stock worth $2,799,000 after purchasing an additional 1,652 shares during the period. Charles Schwab Trust Co bought a new stake in shares of Eaton during the third quarter worth approximately $209,000. Golden State Equity Partners boosted its holdings in shares of Eaton by 6.7% during the third quarter. Golden State Equity Partners now owns 1,892 shares of the industrial products company's stock worth $404,000 after acquiring an additional 118 shares during the period. Finally, Lake Street Financial LLC boosted its holdings in shares of Eaton by 23.8% during the third quarter. Lake Street Financial LLC now owns 1,933 shares of the industrial products company's stock worth $417,000 after acquiring an additional 372 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Up 2.3 %

NYSE:ETN traded up $7.20 during mid-day trading on Friday, hitting $324.30. 2,305,692 shares of the company's stock were exchanged, compared to its average volume of 2,383,996. The business has a fifty day moving average price of $304.82 and a 200 day moving average price of $258.90. Eaton Co. plc has a one year low of $162.04 and a one year high of $331.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The company has a market cap of $129.56 billion, a PE ratio of 40.44, a P/E/G ratio of 2.69 and a beta of 1.07.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the firm earned $2.06 earnings per share. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts predict that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.16%. Eaton's payout ratio is 46.88%.

Insider Activity

In related news, insider Peter Denk sold 1,731 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the transaction, the insider now directly owns 5,514 shares of the company's stock, valued at $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the transaction, the insider now directly owns 5,514 shares of the company's stock, valued at approximately $1,593,380.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares of the company's stock, valued at $8,116,427.04. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock worth $10,904,774 in the last three months. Company insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ETN shares. Bank of America boosted their price target on Eaton from $320.00 to $330.00 and gave the company a "buy" rating in a research note on Monday, March 18th. UBS Group increased their price objective on Eaton from $255.00 to $305.00 and gave the company a "buy" rating in a report on Friday, February 2nd. Wolfe Research reaffirmed an "underperform" rating and set a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. The Goldman Sachs Group upped their price target on shares of Eaton from $287.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, March 15th. Finally, Barclays raised shares of Eaton from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $295.60.

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.