Eaton Co. plc (NYSE:ETN) Shares Sold by Knowledge Leaders Capital LLC

Knowledge Leaders Capital LLC decreased its holdings in Eaton Co. plc (NYSE:ETN) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,136 shares of the industrial products company’s stock after selling 194 shares during the quarter. Knowledge Leaders Capital LLC’s holdings in Eaton were worth $514,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ETN. DAVENPORT & Co LLC raised its stake in Eaton by 6.6% during the 3rd quarter. DAVENPORT & Co LLC now owns 23,890 shares of the industrial products company’s stock valued at $5,096,000 after purchasing an additional 1,480 shares during the period. Avior Wealth Management LLC raised its stake in Eaton by 69.5% during the 3rd quarter. Avior Wealth Management LLC now owns 222 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 91 shares during the period. GHP Investment Advisors Inc. grew its holdings in shares of Eaton by 12.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 664 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 75 shares in the last quarter. Meridian Wealth Management LLC grew its holdings in shares of Eaton by 17.2% during the 3rd quarter. Meridian Wealth Management LLC now owns 1,379 shares of the industrial products company’s stock valued at $294,000 after acquiring an additional 202 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in shares of Eaton by 1.2% during the 3rd quarter. Private Trust Co. NA now owns 7,240 shares of the industrial products company’s stock valued at $1,544,000 after acquiring an additional 86 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Eaton stock traded up $7.20 on Friday, reaching $324.30. 2,305,692 shares of the stock were exchanged, compared to its average volume of 2,383,996. The stock has a market cap of $129.56 billion, a PE ratio of 40.42, a PEG ratio of 2.63 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. Eaton Co. plc has a twelve month low of $162.04 and a twelve month high of $331.47. The firm has a fifty day moving average price of $304.82 and a two-hundred day moving average price of $258.28.

Eaton (NYSE:ETN) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.06 EPS. Sell-side analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio is currently 46.88%.

Analysts Set New Price Targets

Several research firms have recently commented on ETN. Citigroup boosted their price target on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. UBS Group boosted their price target on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Evercore ISI boosted their price target on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Buying and Selling

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $20,244,140.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Eaton news, 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 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was 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 disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock valued at $10,904,774 over the last quarter. Corporate 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.