Silvercrest Asset Management Group LLC lowered its position in Eaton Co. plc (NYSE:ETN - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,351 shares of the industrial products company's stock after selling 2,030 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 0.07% of Eaton worth $88,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Wetzel Investment Advisors Inc. raised its position in Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock valued at $1,029,000 after acquiring an additional 28 shares in the last quarter. Signal Advisors Wealth LLC grew its position in Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after buying an additional 30 shares during the period. Lantz Financial LLC raised its position in shares of Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock worth $219,000 after acquiring an additional 30 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in shares of Eaton by 2.0% during the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company's stock worth $544,000 after acquiring an additional 32 shares in the last quarter. Finally, Norden Group LLC increased its stake in shares of Eaton by 3.4% in the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock valued at $325,000 after purchasing an additional 32 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.
Eaton Stock Down 0.3%
Shares of ETN opened at $327.99 on Friday. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The company's 50-day simple moving average is $286.47 and its 200-day simple moving average is $319.82. The stock has a market capitalization of $128.34 billion, a PE ratio of 34.53, a P/E/G ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.
Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during 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 business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 earnings per share. Analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.
Eaton Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a $1.04 dividend. 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%.
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on shares of Eaton from $289.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Morgan Stanley reduced their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Barclays cut their price objective on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Finally, Melius Research reaffirmed a "hold" rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Eaton has an average rating of "Moderate Buy" and a consensus target price of $363.22.
Read Our Latest Stock Analysis on ETN
Insider Activity
In other news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated 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 sale, the insider now owns 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company's stock.
About Eaton
(
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.
Read More
Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Co. plc (NYSE:ETN - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Eaton, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eaton wasn't on the list.
While Eaton currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
