Eaton Co. plc (NYSE:ETN) Shares Sold by Boyd Watterson Asset Management LLC OH

Boyd Watterson Asset Management LLC OH lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,467 shares of the industrial products company’s stock after selling 63 shares during the quarter. Eaton comprises about 2.3% of Boyd Watterson Asset Management LLC OH’s holdings, making the stock its 10th largest position. Boyd Watterson Asset Management LLC OH’s holdings in Eaton were worth $5,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC lifted its stake in Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after buying an additional 5,270,331 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Eaton during the 3rd quarter valued at about $340,500,000. Deutsche Bank AG grew its stake in Eaton by 97.5% during the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after acquiring an additional 918,422 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Eaton in the 3rd quarter valued at approximately $67,305,000. Finally, International Assets Investment Management LLC grew its stake in shares of Eaton by 21,664.8% in the 4th quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock valued at $76,157,000 after buying an additional 314,789 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 2.3 %

Eaton stock traded up $7.20 during trading hours on Friday, hitting $324.30. 2,305,692 shares of the stock traded hands, compared to its average volume of 2,383,996. The firm’s 50-day moving average price is $304.82 and its two-hundred day moving average price is $258.28. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The company 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. Eaton Co. plc has a one year low of $162.04 and a one year high of $331.47.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the firm earned $2.06 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts forecast that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Announces Dividend

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

Analysts Set New Price Targets

ETN has been the subject of a number of research analyst reports. UBS Group upped their price target on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group upped their target price on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. Finally, Wolfe Research reiterated an “underperform” rating and issued a $312.00 price target on shares of Eaton in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $295.60.

Insiders Place Their Bets

In other news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the sale, the insider now owns 630 shares of the company’s stock, valued at approximately $171,360. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 69,472 shares of the company’s stock, 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 in the last three months. Corporate insiders own 0.53% 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.