Eaton Co. plc (NYSE:ETN) is Delta Asset Management LLC TN's 6th Largest Position

Delta Asset Management LLC TN trimmed its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 153,044 shares of the industrial products company's stock after selling 2,797 shares during the period. Eaton makes up about 3.5% of Delta Asset Management LLC TN's holdings, making the stock its 6th largest holding. Delta Asset Management LLC TN's holdings in Eaton were worth $36,856,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tennessee Valley Asset Management Partners acquired a new stake in Eaton in the 4th quarter valued at approximately $25,000. Valued Wealth Advisors LLC purchased a new stake in shares of Eaton in the 4th quarter valued at $35,000. Chilton Capital Management LLC acquired a new position in Eaton during the 4th quarter worth about $35,000. Authentikos Wealth Advisory LLC acquired a new position in Eaton during the 3rd quarter worth about $39,000. Finally, Fortitude Family Office LLC acquired a new position in Eaton in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Down 0.2 %

Eaton stock traded down $0.60 during midday trading on Wednesday, reaching $336.13. The company's stock had a trading volume of 1,564,790 shares, compared to its average volume of 1,983,884. Eaton Co. plc has a fifty-two week low of $167.33 and a fifty-two week high of $338.88. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The company has a market cap of $134.38 billion, a P/E ratio of 39.68, a P/E/G ratio of 2.61 and a beta of 1.06. The business has a 50-day simple moving average of $318.69 and a 200-day simple moving average of $274.05.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates 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 earned $1.88 earnings per share. Eaton's quarterly revenue was up 8.4% on a year-over-year basis. On average, research analysts expect that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced 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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, May 3rd. Eaton's dividend payout ratio (DPR) is currently 44.39%.

Insider Transactions at Eaton

In other news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the sale, the insider now owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the sale, the insider now owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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. Over the last 90 days, insiders have sold 17,174 shares of company stock worth $5,098,000. Corporate insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ETN shares. Evercore ISI raised their price objective on shares of Eaton from $262.00 to $308.00 and gave the company an "outperform" rating in a research note on Tuesday, February 20th. Bank of America boosted their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, March 18th. Barclays upgraded Eaton from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Berenberg Bank boosted their target price on Eaton from $200.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, March 6th. Finally, Citigroup increased their price target on Eaton from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, February 2nd. One research 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.com, the company currently has an average rating of "Moderate Buy" and an average target price of $314.27.

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.