Eaton Co. plc (NYSE:ETN) Shares Sold by Sagefield Capital LP

Sagefield Capital LP trimmed its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 9.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,367 shares of the industrial products company's stock after selling 3,166 shares during the quarter. Eaton makes up approximately 1.1% of Sagefield Capital LP's investment portfolio, making the stock its 24th largest position. Sagefield Capital LP's holdings in Eaton were worth $10,078,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ETN. Regent Peak Wealth Advisors LLC purchased a new stake in shares of Eaton during the fourth quarter worth approximately $532,000. Brookstone Capital Management grew its holdings in Eaton by 2.0% in the 4th quarter. Brookstone Capital Management now owns 2,820 shares of the industrial products company's stock valued at $936,000 after buying an additional 54 shares in the last quarter. Oak Thistle LLC purchased a new stake in Eaton in the 4th quarter valued at $332,000. Kathmere Capital Management LLC grew its holdings in Eaton by 8.7% in the 4th quarter. Kathmere Capital Management LLC now owns 1,089 shares of the industrial products company's stock valued at $361,000 after buying an additional 87 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in Eaton by 19.8% in the 4th quarter. Park Avenue Securities LLC now owns 13,520 shares of the industrial products company's stock valued at $4,487,000 after buying an additional 2,231 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Down 0.4%

NYSE ETN traded down $1.33 during trading hours on Tuesday, hitting $327.96. 1,654,467 shares of the company were exchanged, compared to its average volume of 2,661,322. The company has a 50 day moving average of $288.15 and a two-hundred day moving average of $319.43. 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 Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The firm has a market cap of $128.33 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN - Get Free Report) last issued 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%. Eaton's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.40 EPS. Equities research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $1.04 per share. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.27%. Eaton's dividend payout ratio is presently 41.98%.

Analysts Set New Price Targets

ETN has been the subject of several analyst reports. Wells Fargo & Company restated an "overweight" rating and issued a $355.00 target price on shares of Eaton in a report on Monday, May 5th. Jefferies Financial Group dropped their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. BNP Paribas assumed coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. Melius lowered Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Finally, KeyCorp upped their price target on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $367.83.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction 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 completion of the transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Craig Arnold sold 103,486 shares of the business's 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 completion of the transaction, the insider now owns 490,208 shares of the company's stock, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 over the last quarter. 0.30% of the stock is currently owned by insiders.

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.