Massachusetts Financial Services Co. MA decreased its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,498,294 shares of the industrial products company's stock after selling 1,021,397 shares during the quarter. Eaton accounts for approximately 1.0% of Massachusetts Financial Services Co. MA's portfolio, making the stock its 15th largest position. Massachusetts Financial Services Co. MA owned about 3.38% of Eaton worth $3,250,659,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Avantax Advisory Services Inc. lifted its position in Eaton by 23.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,879 shares of the industrial products company's stock worth $3,342,000 after buying an additional 2,631 shares during the last quarter. Wambolt & Associates LLC lifted its position in Eaton by 1.3% in the 4th quarter. Wambolt & Associates LLC now owns 15,916 shares of the industrial products company's stock worth $3,833,000 after buying an additional 202 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in Eaton by 4.1% in the 4th quarter. Checchi Capital Advisers LLC now owns 5,117 shares of the industrial products company's stock worth $1,232,000 after buying an additional 203 shares during the last quarter. Summitry LLC lifted its position in Eaton by 0.6% in the 4th quarter. Summitry LLC now owns 32,442 shares of the industrial products company's stock worth $7,813,000 after buying an additional 201 shares during the last quarter. Finally, Ieq Capital LLC lifted its position in Eaton by 1.0% in the 4th quarter. Ieq Capital LLC now owns 21,943 shares of the industrial products company's stock worth $5,284,000 after buying an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
Eaton Stock Down 0.8 %
ETN stock traded down $2.69 during midday trading on Friday, hitting $330.57. The stock had a trading volume of 1,955,089 shares, compared to its average volume of 2,476,349. Eaton Co. plc has a 52-week low of $165.24 and a 52-week high of $337.70. The firm has a market cap of $132.16 billion, a price-to-earnings ratio of 39.03, a price-to-earnings-growth ratio of 2.61 and a beta of 1.06. The business has a 50-day moving average of $312.91 and a two-hundred day moving average of $266.89. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05.
Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.91 billion. During the same period last year, the firm posted $1.88 earnings per share. Eaton's revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Eaton Co. plc will post 10.47 earnings per share for the current fiscal year.
Eaton Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors 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 1.14%. Eaton's dividend payout ratio (DPR) is presently 44.39%.
Insider Activity at Eaton
In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares of the company's stock, valued at $20,244,140.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Olivier Leonetti sold 4,461 shares of the firm's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now owns 630 shares of the company's stock, valued at $171,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the firm's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold 21,635 shares of company stock valued at $6,311,392 over the last ninety days. Insiders own 0.53% of the company's stock.
Analyst Ratings Changes
Several analysts have weighed in on ETN shares. Barclays upgraded Eaton from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price objective on Eaton from $279.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday, May 1st. Mizuho reiterated a "buy" rating and issued a $355.00 price objective (up previously from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. Evercore ISI boosted their price objective on Eaton from $262.00 to $308.00 and gave the company an "outperform" rating in a research report on Tuesday, February 20th. Finally, Argus boosted their price objective on Eaton from $290.00 to $350.00 and gave the company a "buy" rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $314.27.
View Our Latest Research Report on Eaton
Eaton Company Profile
(
Free Report)
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.
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