Eaton Co. plc (NYSE:ETN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in Eaton Co. plc (NYSE:ETN) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 366,521 shares of the industrial products company’s stock after selling 45,610 shares during the quarter. Federated Hermes Inc. owned about 0.09% of Eaton worth $88,266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ETN. Tennessee Valley Asset Management Partners acquired a new position in Eaton in the 4th quarter worth approximately $25,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of Eaton during the 2nd quarter worth approximately $27,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Eaton during the 4th quarter worth approximately $30,000. Valued Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $35,000. Finally, Chilton Capital Management LLC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Berenberg Bank raised their price objective on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Wolfe Research reissued an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. Bank of America boosted their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Finally, The Goldman Sachs Group boosted their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Trading Down 0.4 %

Shares of ETN opened at $308.94 on Friday. Eaton Co. plc has a 52-week low of $161.12 and a 52-week high of $331.47. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average is $300.20 and its two-hundred day moving average is $253.91. The stock has a market cap of $123.42 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 2.57 and a beta of 1.07.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.55 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 company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the company posted $2.06 earnings per share. Eaton’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts forecast that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date was Friday, March 8th. Eaton’s dividend payout ratio is presently 46.88%.

Insider Buying and Selling

In related news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction on Wednesday, February 7th. The stock was 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 $8,116,427.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,969 shares of company stock worth $10,904,774. Company insiders own 0.53% of the company’s stock.

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.