Eaton Co. plc (NYSE:ETN) Stock Holdings Cut by Platform Technology Partners

Platform Technology Partners reduced its position in shares of Eaton Co. plc (NYSE:ETNFree Report) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,562 shares of the industrial products company’s stock after selling 93 shares during the period. Platform Technology Partners’ holdings in Eaton were worth $376,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of Eaton during the 4th quarter valued at $25,000. Clear Investment Research LLC acquired a new stake in shares of Eaton during the 4th quarter valued at $29,000. Valued Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter valued at $35,000. Chilton Capital Management LLC acquired a new stake in shares of Eaton during the 4th quarter valued at $35,000. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter valued at $41,000. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the completion of the sale, the insider now directly owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of NYSE:ETN traded up $1.37 during midday trading on Friday, hitting $314.83. The company’s stock had a trading volume of 2,389,525 shares, compared to its average volume of 1,933,712. The stock has a market capitalization of $125.87 billion, a price-to-earnings ratio of 37.15, a PEG ratio of 2.62 and a beta of 1.04. The stock’s 50 day simple moving average is $323.63 and its 200 day simple moving average is $282.60. Eaton Co. plc has a fifty-two week low of $184.70 and a fifty-two week high of $345.19. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56.

Eaton (NYSE:ETNGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business posted $1.88 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s dividend payout ratio is 44.39%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ETN shares. JPMorgan Chase & Co. increased their target price on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. The Goldman Sachs Group increased their target price on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $286.00 to $371.00 in a report on Friday, April 5th. HSBC increased their target price on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, Wolfe Research reiterated an “underperform” rating and set a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

View Our Latest Research Report on ETN

Eaton Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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