Graham Capital Management L.P. Sells 25,260 Shares of Eaton Co. plc (NYSE:ETN)

Graham Capital Management L.P. decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 96.8% in the 4th quarter, Holdings Channel reports. The firm owned 837 shares of the industrial products company’s stock after selling 25,260 shares during the quarter. Graham Capital Management L.P.’s holdings in Eaton were worth $278,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ETN. Regent Peak Wealth Advisors LLC bought a new position in Eaton during the 4th quarter worth approximately $532,000. Oak Thistle LLC bought a new position in Eaton during the 4th quarter worth approximately $332,000. Hennion & Walsh Asset Management Inc. raised its holdings in Eaton by 127.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,635 shares of the industrial products company’s stock worth $2,534,000 after purchasing an additional 4,284 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Eaton by 3.4% during the 4th quarter. Ritholtz Wealth Management now owns 6,500 shares of the industrial products company’s stock worth $2,157,000 after purchasing an additional 212 shares during the last quarter. Finally, RDA Financial Network acquired a new stake in shares of Eaton during the 4th quarter worth approximately $404,000. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 103,486 shares of Eaton 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 sale, the insider now owns 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock worth $49,622,894 in the last ninety days. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ETN. Royal Bank of Canada raised their price objective on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Barclays reduced their price objective on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research report on Friday, April 4th. Citigroup raised their price objective on shares of Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Finally, Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.56.

Eaton Price Performance

ETN opened at $329.40 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market capitalization of $128.89 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 2.64 and a beta of 1.14. The firm’s fifty day moving average price is $287.40 and its two-hundred day moving average price is $319.55. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99.

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

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s payout ratio is 41.98%.

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.