Eaton Co. plc (NYSE:ETN) Shares Sold by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC decreased its holdings in Eaton Co. plc (NYSE:ETN) by 25.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,913 shares of the industrial products company’s stock after selling 7,738 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Eaton were worth $7,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lighthouse Wealth Management Inc. acquired a new position in shares of Eaton during the fourth quarter worth $297,000. Bearing Point Capital LLC acquired a new position in Eaton in the fourth quarter valued at $2,713,000. Webster Bank N. A. boosted its stake in Eaton by 52.4% in the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after acquiring an additional 6,166 shares in the last quarter. Ballentine Partners LLC boosted its stake in Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after acquiring an additional 790 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after acquiring an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $327.96 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The firm has a 50-day simple moving average of $289.04 and a 200 day simple moving average of $319.49. The company has a market cap of $128.33 billion, a PE ratio of 34.52, a P/E/G ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.40 EPS. On average, sell-side analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, May 5th. Eaton’s dividend payout ratio (DPR) is 41.98%.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 103,486 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the sale, the insider now directly owns 490,208 shares of the company’s stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the company’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 transaction of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of several analyst reports. KeyCorp increased their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. BNP Paribas assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price on the stock. Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Eaton from a “hold” rating to a “buy” rating in a report on Sunday. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.83.

Eaton 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.