Eaton Co. plc (NYSE:ETN) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 6.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,046 shares of the industrial products company’s stock after selling 200 shares during the period. Montag A & Associates Inc.’s holdings in Eaton were worth $953,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new position in Eaton during the 4th quarter worth approximately $25,000. LifeSteps Financial Inc. acquired a new stake in shares of Eaton in the 1st quarter worth approximately $25,000. Atwood & Palmer Inc. grew its holdings in shares of Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 50 shares during the period. Clear Investment Research LLC acquired a new stake in shares of Eaton in the 4th quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Eaton in the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Down 0.8 %

Shares of ETN stock traded down $2.79 on Monday, reaching $327.69. 518,629 shares of the stock were exchanged, compared to its average volume of 1,989,745. The stock has a market cap of $131.01 billion, a P/E ratio of 38.83, a price-to-earnings-growth ratio of 2.78 and a beta of 1.02. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $325.94 and a two-hundred day moving average of $298.91. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.88 EPS. On average, research analysts anticipate that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were issued a dividend of $0.94 per share. The ex-dividend date was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. Eaton’s payout ratio is 44.39%.

Analysts Set New Price Targets

ETN has been the topic of a number of research reports. HSBC upped their price target on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Mizuho reaffirmed a “buy” rating and issued a $355.00 target price (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $286.00 to $371.00 in a research note on Friday, April 5th. Finally, Raymond James initiated coverage on Eaton in a research note on Friday, June 28th. They issued an “outperform” rating and a $375.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $323.06.

Insider Transactions at Eaton

In related news, insider Peter Denk sold 2,416 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the sale, the insider now directly owns 5,086 shares in the company, valued at approximately $1,687,738.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

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.