Atwood & Palmer Inc. Has $36,000 Position in Eaton Co. plc (NYSE:ETN)

Atwood & Palmer Inc. trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 39.9% during the first quarter, HoldingsChannel reports. The fund owned 131 shares of the industrial products company’s stock after selling 87 shares during the quarter. Atwood & Palmer Inc.’s holdings in Eaton were worth $36,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ETN. Brighton Jones LLC raised its holdings in Eaton by 1.4% during the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company’s stock worth $1,109,000 after purchasing an additional 45 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Eaton by 17.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock worth $303,000 after buying an additional 136 shares during the period. Strategic Financial Concepts LLC bought a new position in Eaton during the fourth quarter worth $38,000. Vest Financial LLC acquired a new position in Eaton in the fourth quarter valued at $1,140,000. Finally, Quotient Wealth Partners LLC boosted its position in Eaton by 5.1% during the fourth quarter. Quotient Wealth Partners LLC now owns 1,169 shares of the industrial products company’s stock valued at $388,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Down 1.8%

NYSE ETN opened at $325.61 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $127.41 billion, a P/E ratio of 34.27, a PEG ratio of 2.64 and a beta of 1.16. The business has a fifty day simple moving average of $298.94 and a 200 day simple moving average of $315.59. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the firm posted $2.40 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 103,486 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The shares were 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 owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock worth $49,622,894 over the last quarter. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ETN. Jefferies Financial Group lowered their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Wall Street Zen upgraded Eaton from a “hold” rating to a “buy” rating in a report on Sunday, May 18th. JPMorgan Chase & Co. increased their price target on Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Royal Bank of Canada lifted their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Finally, Morgan Stanley dropped their target price on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $368.78.

Eaton Company 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.