MJP Associates Inc. ADV Sells 47 Shares of Eaton Co. plc (NYSE:ETN)

MJP Associates Inc. ADV lowered its position in Eaton Co. plc (NYSE:ETN) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,456 shares of the industrial products company’s stock after selling 47 shares during the quarter. MJP Associates Inc. ADV’s holdings in Eaton were worth $483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lighthouse Wealth Management Inc. bought a new position in Eaton in the fourth quarter worth approximately $297,000. Bearing Point Capital LLC bought a new position in Eaton in the fourth quarter worth approximately $2,713,000. Webster Bank N. A. grew its stake in Eaton by 52.4% in the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after purchasing an additional 6,166 shares in the last quarter. Ballentine Partners LLC grew its stake in Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after purchasing an additional 790 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Eaton by 13.2% during the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after buying an additional 1,694 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Eaton news, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Arnold sold 51,054 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the sale, the insider now owns 489,444 shares in the company, valued at $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Eaton Stock Performance

Shares of ETN stock opened at $310.01 on Monday. The firm has a market capitalization of $121.31 billion, a price-to-earnings ratio of 32.63, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. 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 business has a fifty day moving average of $282.81 and a 200 day moving average of $319.96. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results 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 company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $2.40 EPS. As a group, research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s dividend payout ratio is currently 41.98%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company restated an “overweight” rating and set a $355.00 target price on shares of Eaton in a report on Monday, May 5th. KeyCorp upped their target price on Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Royal Bank of Canada upped their target price on Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. JPMorgan Chase & Co. upped their target price on Eaton from $289.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Finally, Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $361.13.

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.