Eaton Co. plc (NYSE:ETN) Position Cut by Talisman Wealth Advisors LLC

Talisman Wealth Advisors LLC lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 14.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 874 shares of the industrial products company’s stock after selling 144 shares during the period. Talisman Wealth Advisors LLC’s holdings in Eaton were worth $290,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ETN. Norges Bank acquired a new stake in shares of Eaton in the fourth quarter valued at $1,495,582,000. Capital International Investors acquired a new stake in Eaton in the 4th quarter valued at about $523,541,000. Proficio Capital Partners LLC boosted its position in shares of Eaton by 42,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after purchasing an additional 730,594 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new stake in shares of Eaton in the 4th quarter worth approximately $231,552,000. Finally, Janus Henderson Group PLC lifted its stake in Eaton by 24.3% during the fourth quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company’s stock valued at $998,144,000 after purchasing an additional 588,370 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company reiterated an “overweight” rating and set a $355.00 price objective on shares of Eaton in a research report on Monday, May 5th. Evercore ISI increased their price target on Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a research report on Monday. Melius Research restated a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Royal Bank of Canada raised their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $367.83.

Eaton Trading Up 0.1%

Shares of NYSE ETN opened at $329.34 on Tuesday. The business has a 50 day simple moving average of $288.15 and a 200 day simple moving average of $319.43. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The stock has a market cap of $128.87 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.40 earnings per share. On average, research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. Eaton’s payout ratio is currently 41.98%.

Insider Buying and Selling at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now directly owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares of the company’s stock, valued at $149,490,880.92. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock worth $49,622,894 over the last 90 days. Insiders own 0.30% 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.