Securian Asset Management Inc. Sells 296 Shares of Eaton Corporation, PLC (NYSE:ETN)

Securian Asset Management Inc. trimmed its holdings in Eaton Corporation, PLC (NYSE:ETN) by 1.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 20,945 shares of the industrial products company’s stock after selling 296 shares during the quarter. Securian Asset Management Inc.’s holdings in Eaton were worth $5,693,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in Eaton during the fourth quarter valued at approximately $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Eaton during the 4th quarter valued at $27,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock worth $27,000 after buying an additional 51 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton in the fourth quarter worth $33,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Eaton during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider directly owned 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider owned 490,208 shares of the company’s stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by insiders.

Eaton Price Performance

Shares of NYSE:ETN opened at $360.67 on Monday. The firm has a market cap of $141.13 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 2.72 and a beta of 1.17. The firm has a fifty day moving average price of $332.74 and a 200 day moving average price of $313.29. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the firm earned $2.40 EPS. The business’s revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.15%. Eaton’s dividend payout ratio is currently 41.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ETN shares. Royal Bank Of Canada raised their price objective on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. BNP Paribas Exane started coverage on shares of Eaton in a research note on Thursday, May 15th. They set an “outperform” rating and a $380.00 price target on the stock. Barclays upped their price objective on Eaton from $323.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. KeyCorp lifted their target price on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Finally, The Goldman Sachs Group upped their price target on Eaton from $345.00 to $382.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $370.63.

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.