Eaton Co. plc (NYSE:ETN) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its holdings in Eaton Co. plc (NYSE:ETNGet Rating) by 18.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,037 shares of the industrial products company’s stock after selling 677 shares during the quarter. Fisher Asset Management LLC’s holdings in Eaton were worth $461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ETN. Wade G W & Inc. lifted its position in shares of Eaton by 3.7% during the 4th quarter. Wade G W & Inc. now owns 1,839 shares of the industrial products company’s stock worth $318,000 after buying an additional 65 shares during the last quarter. B. Riley Wealth Management Inc. lifted its position in shares of Eaton by 1.0% during the 4th quarter. B. Riley Wealth Management Inc. now owns 6,899 shares of the industrial products company’s stock worth $1,192,000 after buying an additional 69 shares during the last quarter. Oldfather Financial Services LLC lifted its position in shares of Eaton by 1.8% during the 4th quarter. Oldfather Financial Services LLC now owns 4,229 shares of the industrial products company’s stock worth $664,000 after buying an additional 73 shares during the last quarter. Trust Investment Advisors lifted its position in shares of Eaton by 0.8% during the 1st quarter. Trust Investment Advisors now owns 9,530 shares of the industrial products company’s stock worth $1,446,000 after buying an additional 73 shares during the last quarter. Finally, Crescent Grove Advisors LLC lifted its position in shares of Eaton by 1.6% during the 1st quarter. Crescent Grove Advisors LLC now owns 4,697 shares of the industrial products company’s stock worth $713,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 79.10% of the company’s stock.

Insider Buying and Selling

In related news, insider Boise April Miller sold 12,283 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $138.66, for a total value of $1,703,160.78. Following the sale, the insider now directly owns 11,435 shares in the company, valued at approximately $1,585,577.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.56% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $148.71 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.97 and a debt-to-equity ratio of 0.38. Eaton Co. plc has a fifty-two week low of $122.50 and a fifty-two week high of $175.72. The stock has a market cap of $59.23 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19. The firm’s fifty day simple moving average is $134.35 and its 200-day simple moving average is $144.24.

Eaton (NYSE:ETNGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.05. Eaton had a net margin of 11.70% and a return on equity of 17.04%. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the company posted $1.72 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. Analysts expect that Eaton Co. plc will post 7.51 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be given a $0.81 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $3.24 annualized dividend and a dividend yield of 2.18%. Eaton’s dividend payout ratio is presently 56.15%.

Analysts Set New Price Targets

ETN has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of Eaton from $192.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird set a $144.00 price target on shares of Eaton in a research report on Tuesday. Morgan Stanley upped their price target on shares of Eaton from $170.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays upped their price target on shares of Eaton from $112.00 to $124.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, Mizuho upped their price target on shares of Eaton from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $161.33.

About Eaton

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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.

Further Reading

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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