Carson Advisory Inc. Reduces Position in Eaton Co. plc (NYSE:ETN)

Carson Advisory Inc. cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,099 shares of the industrial products company’s stock after selling 211 shares during the period. Carson Advisory Inc.’s holdings in Eaton were worth $746,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Ritholtz Wealth Management lifted its position in shares of Eaton by 5.1% during the 4th quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after buying an additional 277 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Eaton by 30.5% during the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock valued at $8,205,000 after acquiring an additional 7,964 shares during the period. Chicago Capital LLC purchased a new position in Eaton during the 4th quarter valued at $2,958,000. Neo Ivy Capital Management bought a new position in shares of Eaton during the 3rd quarter worth $479,000. Finally, Patriot Financial Group Insurance Agency LLC grew its position in shares of Eaton by 13.6% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,458 shares of the industrial products company’s stock worth $351,000 after buying an additional 174 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 1.0 %

ETN traded up $3.24 on Thursday, hitting $315.27. 3,009,795 shares of the company were exchanged, compared to its average volume of 2,039,761. Eaton Co. plc has a twelve month low of $165.24 and a twelve month high of $333.05. The company has a market cap of $125.95 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 2.63 and a beta of 1.06. The company has a current ratio of 1.56, a quick ratio of 1.02 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $307.35 and a two-hundred day moving average price of $260.80.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.12. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 EPS. On average, equities analysts predict that Eaton Co. plc will post 10.33 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued 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 is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday. Mizuho reissued a “buy” rating and issued a $355.00 price objective (up from $340.00) on shares of Eaton in a report on Wednesday. Bank of America lifted their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. The Goldman Sachs Group lifted their price target on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $309.60.

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.