Sigma Planning Corp Has $1.22 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Sigma Planning Corp decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 65.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,077 shares of the industrial products company’s stock after selling 9,717 shares during the quarter. Sigma Planning Corp’s holdings in Eaton were worth $1,223,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its stake in shares of Eaton by 3.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 42 shares during the period. Amarillo National Bank lifted its stake in shares of Eaton by 3.5% in the 4th quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 43 shares during the period. Red Spruce Capital LLC lifted its stake in shares of Eaton by 0.3% in the 4th quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock valued at $4,220,000 after purchasing an additional 45 shares during the period. GSG Advisors LLC lifted its stake in shares of Eaton by 2.1% in the 4th quarter. GSG Advisors LLC now owns 2,227 shares of the industrial products company’s stock valued at $519,000 after purchasing an additional 46 shares during the period. Finally, Quent Capital LLC lifted its stake in shares of Eaton by 3.8% in the 4th quarter. Quent Capital LLC now owns 1,334 shares of the industrial products company’s stock valued at $321,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares in the company, valued at approximately $171,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares in the company, valued at approximately $171,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock worth $10,904,774 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of a number of analyst reports. Citigroup increased their price target on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Bank of America upped their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Evercore ISI upped their price objective on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, Mizuho upped their price objective on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Price Performance

ETN stock opened at $308.18 on Tuesday. The stock has a 50-day moving average price of $301.39 and a two-hundred day moving average price of $255.94. The stock has a market cap of $123.12 billion, a PE ratio of 38.43, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a 1 year low of $161.12 and a 1 year high of $331.47.

Eaton (NYSE:ETN) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.06 EPS. Equities analysts forecast that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were issued a $0.94 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date was Friday, March 8th. This represents a $3.76 annualized dividend and a dividend yield of 1.22%. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

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.