Eaton Corporation, PLC (NYSE:ETN) Shares Sold by Mendel Capital Management LLC

Mendel Capital Management LLC reduced its position in Eaton Corporation, PLC (NYSE:ETN) by 47.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 790 shares of the industrial products company’s stock after selling 714 shares during the quarter. Mendel Capital Management LLC’s holdings in Eaton were worth $215,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bearing Point Capital LLC acquired a new position in Eaton in the 4th quarter valued at about $2,713,000. Brighton Jones LLC grew its position in shares of Eaton by 4.9% during the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company’s stock worth $953,000 after buying an additional 164 shares in the last quarter. Kennebec Savings Bank grew its position in shares of Eaton by 5.4% during the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company’s stock worth $738,000 after buying an additional 139 shares in the last quarter. American National Bank & Trust grew its position in shares of Eaton by 5.4% during the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company’s stock worth $855,000 after buying an additional 162 shares in the last quarter. Finally, Castle Rock Wealth Management LLC grew its position in shares of Eaton by 7.0% during the fourth quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company’s stock worth $2,575,000 after buying an additional 543 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 1.6%

NYSE:ETN opened at $353.74 on Friday. The firm has a market cap of $138.42 billion, a P/E ratio of 35.70, a PEG ratio of 2.70 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The stock’s 50 day simple moving average is $318.04 and its 200-day simple moving average is $312.83. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.40 earnings per share. Equities analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio is presently 41.98%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays boosted their price objective on Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a research report on Monday, June 9th. Evercore ISI boosted their target price on Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a research note on Monday, May 19th. Wall Street Zen upgraded Eaton from a “hold” rating to a “buy” rating in a research note on Sunday, May 18th. Royal Bank Of Canada boosted their target price on Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Finally, Morgan Stanley decreased their target price on Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.78.

Insider Buying and Selling at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction on 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 in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider now directly owns 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company’s stock.

Eaton 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.