Northcape Wealth Management LLC Sells 460 Shares of Eaton Co. plc (NYSE:ETN)

Northcape Wealth Management LLC lessened its holdings in Eaton Co. plc (NYSE:ETN) by 2.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,877 shares of the industrial products company’s stock after selling 460 shares during the period. Eaton comprises approximately 1.4% of Northcape Wealth Management LLC’s holdings, making the stock its 18th biggest position. Northcape Wealth Management LLC’s holdings in Eaton were worth $3,824,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC lifted its position in shares of Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after acquiring an additional 5,270,331 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Eaton during the 3rd quarter valued at about $340,500,000. Deutsche Bank AG grew its position in shares of Eaton by 97.5% during the third quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after purchasing an additional 918,422 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of Eaton in the third quarter worth about $67,305,000. Finally, International Assets Investment Management LLC boosted its stake in Eaton by 21,664.8% during the fourth quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock valued at $76,157,000 after buying an additional 314,789 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on ETN shares. Berenberg Bank lifted their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. Mizuho boosted their target price on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Finally, Bank of America raised their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Insider Activity at Eaton

In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,969 shares of company stock valued at $10,904,774. 0.33% of the stock is owned by insiders.

Eaton Stock Down 2.5 %

Shares of ETN stock traded down $8.15 during trading hours on Tuesday, reaching $318.36. 5,279,264 shares of the company’s stock were exchanged, compared to its average volume of 2,011,462. The stock has a market cap of $127.18 billion, a PE ratio of 40.75, a PEG ratio of 2.69 and a beta of 1.07. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average price is $305.81 and its two-hundred day moving average price is $259.67. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $333.05.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the business posted $2.06 EPS. Eaton’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts predict that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, May 3rd. Eaton’s payout ratio is 46.88%.

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.