Pitcairn Co. Sells 144 Shares of Eaton Co. plc (NYSE:ETN)

Pitcairn Co. cut its holdings in Eaton Co. plc (NYSE:ETNGet Rating) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,736 shares of the industrial products company’s stock after selling 144 shares during the period. Pitcairn Co.’s holdings in Eaton were worth $818,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Ellsworth Advisors LLC lifted its position in Eaton by 16.9% during the fourth quarter. Ellsworth Advisors LLC now owns 23,136 shares of the industrial products company’s stock valued at $3,998,000 after purchasing an additional 3,347 shares in the last quarter. MTM Investment Management LLC lifted its position in shares of Eaton by 34.2% during the 4th quarter. MTM Investment Management LLC now owns 2,355 shares of the industrial products company’s stock valued at $407,000 after buying an additional 600 shares in the last quarter. New England Research & Management Inc. bought a new position in shares of Eaton during the 4th quarter valued at approximately $212,000. CIBC Asset Management Inc raised its stake in Eaton by 4.3% during the 4th quarter. CIBC Asset Management Inc now owns 37,868 shares of the industrial products company’s stock worth $6,544,000 after acquiring an additional 1,559 shares during the period. Finally, Atria Investments LLC boosted its position in shares of Eaton by 27.3% in the third quarter. Atria Investments LLC now owns 42,837 shares of the industrial products company’s stock worth $6,396,000 after purchasing an additional 9,181 shares during the period. Institutional investors and hedge funds own 79.10% of the company’s stock.

Several research analysts have weighed in on ETN shares. Morgan Stanley upped their price target on Eaton to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 17th. Royal Bank of Canada upped their price target on shares of Eaton from $153.00 to $156.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 2nd. Mizuho reduced their target price on shares of Eaton from $195.00 to $185.00 in a report on Wednesday, May 4th. Credit Suisse Group reduced their price objective on Eaton from $187.00 to $179.00 in a research note on Wednesday, May 4th. Finally, StockNews.com raised Eaton from a “hold” rating to a “buy” rating in a research note on Friday, May 20th. One 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, the company has an average rating of “Buy” and a consensus price target of $171.80.

ETN stock opened at $136.28 on Friday. Eaton Co. plc has a 12 month low of $130.43 and a 12 month high of $175.72. The firm’s 50-day moving average is $145.54 and its 200 day moving average is $156.45. The company has a market capitalization of $54.38 billion, a PE ratio of 24.64, a P/E/G ratio of 1.65 and a beta of 1.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.99 and a quick ratio of 0.59.

Eaton (NYSE:ETNGet Rating) last issued its earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. Eaton had a net margin of 11.21% and a return on equity of 16.92%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company posted $1.44 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Sell-side analysts forecast that Eaton Co. plc will post 7.52 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.38%. The ex-dividend date is Thursday, May 12th. Eaton’s payout ratio is 58.59%.

In other news, insider Joao V. Faria sold 11,852 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $150.00, for a total value of $1,777,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.56% of the company’s stock.

Eaton Company Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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