Eaton Co. PLC (ETN) Position Lowered by Regentatlantic Capital LLC

Regentatlantic Capital LLC decreased its holdings in Eaton Co. PLC (NYSE:ETN) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,755 shares of the industrial products company’s stock after selling 1,458 shares during the quarter. Regentatlantic Capital LLC’s holdings in Eaton were worth $3,525,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in ETN. Financial Gravity Wealth Inc. acquired a new stake in Eaton during the first quarter valued at approximately $25,000. Highwater Wealth Management LLC acquired a new stake in Eaton during the fourth quarter valued at approximately $26,000. Destination Wealth Management raised its stake in Eaton by 103.2% during the first quarter. Destination Wealth Management now owns 319 shares of the industrial products company’s stock valued at $26,000 after buying an additional 162 shares in the last quarter. Athena Capital Advisors LLC acquired a new stake in Eaton during the fourth quarter valued at approximately $27,000. Finally, Bremer Trust National Association acquired a new stake in Eaton during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 78.48% of the company’s stock.

ETN has been the topic of several research reports. Vertical Research upgraded Eaton from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. Robert W. Baird set a $89.00 price objective on Eaton and gave the company a “buy” rating in a research note on Saturday, February 2nd. Wells Fargo & Co upped their target price on Eaton from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Morgan Stanley set a $82.00 target price on Eaton and gave the company a “hold” rating in a report on Saturday, February 2nd. Finally, Zacks Investment Research lowered Eaton from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Three analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $86.79.

In other news, insider Richard H. Fearon sold 1,335 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $80.19, for a total transaction of $107,053.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Curtis J. Hutchins sold 12,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $80.60, for a total value of $967,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,589 shares of company stock valued at $2,465,553 in the last quarter. Insiders own 0.70% of the company’s stock.

ETN traded down $1.17 during trading on Friday, reaching $79.79. The stock had a trading volume of 17,773 shares, compared to its average volume of 2,531,013. The company has a market capitalization of $35.03 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.61 and a beta of 1.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.47 and a quick ratio of 0.92. Eaton Co. PLC has a 1-year low of $64.46 and a 1-year high of $89.46.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, April 30th. The industrial products company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.38 billion. Eaton had a return on equity of 14.56% and a net margin of 10.06%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 earnings per share. Equities analysts expect that Eaton Co. PLC will post 5.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, May 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.56%. Eaton’s dividend payout ratio (DPR) is presently 52.69%.

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Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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