Segment Wealth Management LLC Decreases Position in Eaton Co. plc (NYSE:ETN)

Segment Wealth Management LLC lowered its stake in shares of Eaton Co. plc (NYSE:ETNGet Rating) by 8.1% in the 1st quarter, HoldingsChannel reports. The firm owned 1,320 shares of the industrial products company’s stock after selling 117 shares during the quarter. Segment Wealth Management LLC’s holdings in Eaton were worth $200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ETN. Arlington Partners LLC bought a new position in Eaton in the 4th quarter valued at $31,000. Baldwin Brothers LLC MA lifted its holdings in shares of Eaton by 63.0% during the 1st quarter. Baldwin Brothers LLC MA now owns 220 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 85 shares during the last quarter. Blue Bell Private Wealth Management LLC bought a new stake in shares of Eaton during the 4th quarter worth $35,000. Cassady Schiller Wealth Management LLC bought a new stake in shares of Eaton during the 4th quarter worth $45,000. Finally, City State Bank bought a new stake in shares of Eaton during the 4th quarter worth $45,000. 79.10% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on the stock. Barclays downgraded shares of Eaton from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a report on Tuesday, May 24th. Wells Fargo & Company decreased their target price on shares of Eaton from $159.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 29th. Morgan Stanley decreased their target price on shares of Eaton from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 31st. StockNews.com upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research report on Wednesday, June 29th. Finally, The Goldman Sachs Group decreased their target price on shares of Eaton from $175.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $167.73.

In related news, insider Boise April Miller sold 12,283 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $138.66, for a total transaction of $1,703,160.78. Following the sale, the insider now owns 11,435 shares of the company’s stock, valued at $1,585,577.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.56% of the company’s stock.

Shares of NYSE ETN opened at $126.68 on Wednesday. Eaton Co. plc has a 1 year low of $123.18 and a 1 year high of $175.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.99 and a quick ratio of 0.59. The company’s 50-day moving average is $136.94 and its 200 day moving average is $149.21. The stock has a market capitalization of $50.55 billion, a P/E ratio of 22.91, a P/E/G ratio of 1.55 and a beta of 1.15.

Eaton (NYSE:ETNGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.60 by $0.02. Eaton had a net margin of 11.21% and a return on equity of 16.92%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the firm posted $1.44 earnings per share. Eaton’s quarterly revenue was up 3.2% on a year-over-year basis. Research analysts anticipate that Eaton Co. plc will post 7.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 13th were paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, May 12th. Eaton’s payout ratio is currently 58.59%.

About Eaton (Get Rating)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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