Burns Matteson Capital Management LLC Sells 414 Shares of Eaton Corporation, PLC (NYSE:ETN)

Burns Matteson Capital Management LLC decreased its holdings in Eaton Corporation, PLC (NYSE:ETN) by 16.8% during the 1st quarter, HoldingsChannel reports. The firm owned 2,048 shares of the industrial products company’s stock after selling 414 shares during the quarter. Burns Matteson Capital Management LLC’s holdings in Eaton were worth $557,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital A Wealth Management LLC acquired a new stake in shares of Eaton during the 4th quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter valued at $27,000. Creative Financial Designs Inc. ADV boosted its holdings in shares of Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton during the 4th quarter valued at $33,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Eaton during the 4th quarter valued at $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $363.04 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The stock has a 50 day moving average price of $336.45 and a two-hundred day moving average price of $314.15. The firm has a market capitalization of $142.06 billion, a P/E ratio of 36.63, a P/E/G ratio of 2.73 and a beta of 1.17. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 EPS. Equities analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.15%. Eaton’s payout ratio is presently 41.98%.

Insider Buying and Selling

In other news, insider Craig Arnold sold 103,486 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the transaction, the insider owned 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider owned 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 in the last 90 days. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the topic of several recent research reports. Royal Bank Of Canada raised their price objective on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a report on Monday, May 5th. KeyCorp raised their price objective on Eaton from $355.00 to $410.00 and gave the company an “overweight” rating in a report on Tuesday. BNP Paribas began coverage on Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price on the stock. The Goldman Sachs Group lifted their target price on Eaton from $345.00 to $382.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Finally, Morgan Stanley cut their target price on Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $377.89.

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.