Eaton Co. plc (NYSE:ETN) Shares Sold by Ellevest Inc.

Ellevest Inc. trimmed its position in Eaton Co. plc (NYSE:ETN) by 5.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,234 shares of the industrial products company’s stock after selling 75 shares during the period. Ellevest Inc.’s holdings in Eaton were worth $410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ensign Peak Advisors Inc grew its position in shares of Eaton by 11.9% in the 4th quarter. Ensign Peak Advisors Inc now owns 61,627 shares of the industrial products company’s stock worth $20,452,000 after acquiring an additional 6,553 shares in the last quarter. Ethic Inc. lifted its stake in Eaton by 27.0% during the fourth quarter. Ethic Inc. now owns 36,536 shares of the industrial products company’s stock worth $12,125,000 after purchasing an additional 7,761 shares during the last quarter. Fiduciary Trust Co boosted its holdings in Eaton by 5.7% in the fourth quarter. Fiduciary Trust Co now owns 26,670 shares of the industrial products company’s stock worth $8,851,000 after purchasing an additional 1,449 shares during the period. FWL Investment Management LLC increased its stake in Eaton by 7.7% during the fourth quarter. FWL Investment Management LLC now owns 22,852 shares of the industrial products company’s stock valued at $7,584,000 after purchasing an additional 1,643 shares during the last quarter. Finally, Clark Capital Management Group Inc. raised its holdings in shares of Eaton by 10.4% during the fourth quarter. Clark Capital Management Group Inc. now owns 3,076 shares of the industrial products company’s stock worth $1,021,000 after purchasing an additional 291 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

NYSE ETN opened at $310.01 on Friday. The firm has a market capitalization of $121.31 billion, a PE ratio of 32.63, 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 current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The company’s 50 day simple moving average is $282.81 and its 200 day simple moving average is $320.30.

Eaton (NYSE:ETN) last posted 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. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the business earned $2.40 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts forecast 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 will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a dividend of $1.04 per share. The ex-dividend date is Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.34%. Eaton’s dividend payout ratio (DPR) is 41.98%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ETN. Melius Research reaffirmed a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Royal Bank of Canada increased their price target on Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. KeyCorp boosted their price objective on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Barclays dropped their target price on Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research report on Friday, April 4th. Finally, Evercore ISI reduced their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and an average price target of $361.13.

Insider Buying and Selling

In other news, insider Craig Arnold sold 51,054 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the sale, the insider now directly owns 489,444 shares of the company’s stock, valued at $149,490,880.92. The trade was a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Yelton sold 2,120 shares of the 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 $1,004,014.34. This trade represents a 38.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.