Eaton Co. plc (NYSE:ETN) Shares Sold by Fiduciary Alliance LLC

Fiduciary Alliance LLC decreased its position in Eaton Co. plc (NYSE:ETN) by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,529 shares of the industrial products company’s stock after selling 2,120 shares during the quarter. Fiduciary Alliance LLC’s holdings in Eaton were worth $7,483,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bearing Point Capital LLC purchased a new stake in Eaton during the 4th quarter worth $2,713,000. McAdam LLC acquired a new stake in shares of Eaton during the fourth quarter valued at about $293,000. U.S. Capital Wealth Advisors LLC increased its position in shares of Eaton by 256.8% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 57,521 shares of the industrial products company’s stock worth $19,089,000 after acquiring an additional 41,399 shares during the last quarter. Generate Investment Management Ltd acquired a new position in shares of Eaton in the fourth quarter worth about $12,678,000. Finally, Strategic Financial Concepts LLC purchased a new position in Eaton in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

ETN stock opened at $320.35 on Monday. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The stock has a market capitalization of $125.35 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock’s fifty day moving average is $293.29 and its two-hundred day moving average is $317.22.

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

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s payout ratio is currently 41.98%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ETN. Wall Street Zen raised Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. Evercore ISI upped their price target on shares of Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a report on Monday, May 19th. JPMorgan Chase & Co. raised their price objective on shares of Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. BNP Paribas Exane began coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 target price on the stock. Finally, Citigroup increased their price target 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. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $367.83.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider now directly owns 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by company insiders.

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.