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

Burney Co. lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 6.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,791 shares of the industrial products company’s stock after selling 481 shares during the period. Burney Co.’s holdings in Eaton were worth $2,254,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Eaton by 0.7% during the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after acquiring an additional 56,516 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after purchasing an additional 18,077 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after buying an additional 316,830 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after buying an additional 597,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Up 0.6 %

Shares of Eaton stock opened at $342.35 on Thursday. Eaton Co. plc has a twelve month low of $236.04 and a twelve month high of $379.99. The stock has a market cap of $135.30 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a fifty day moving average price of $355.38 and a 200 day moving average price of $329.33.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.47 earnings per share. Equities research analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.10%. Eaton’s payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

Several analysts have commented on ETN shares. Wells Fargo & Company lowered their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Mizuho lifted their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reduced their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup dropped their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday. Finally, Jefferies Financial Group raised their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $368.89.

Eaton 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.