Eaton Co. plc (NYSE:ETN) Shares Sold by Delta Asset Management LLC TN

Delta Asset Management LLC TN lessened its position in Eaton Co. plc (NYSE:ETN) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,044 shares of the industrial products company’s stock after selling 2,797 shares during the period. Eaton comprises 3.5% of Delta Asset Management LLC TN’s portfolio, making the stock its 6th largest holding. Delta Asset Management LLC TN’s holdings in Eaton were worth $36,856,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ETN. Tennessee Valley Asset Management Partners purchased a new stake in Eaton in the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC acquired a new position in shares of Eaton in the 4th quarter valued at $35,000. Chilton Capital Management LLC acquired a new position in Eaton in the fourth quarter valued at $35,000. Authentikos Wealth Advisory LLC purchased a new position in shares of Eaton in the 3rd quarter worth about $39,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Eaton in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Evercore ISI increased their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Argus boosted their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Mizuho restated a “buy” rating and issued a $355.00 target price (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. UBS Group increased their price objective on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Bank of America lifted their price target on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Eaton Trading Down 0.2 %

Shares of NYSE ETN traded down $0.55 during mid-day trading on Wednesday, hitting $336.18. 1,557,743 shares of the company traded hands, compared to its average volume of 1,983,842. The business has a 50 day moving average of $317.97 and a two-hundred day moving average of $273.62. The stock has a market capitalization of $134.40 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 2.61 and a beta of 1.06. Eaton Co. plc has a 1 year low of $167.33 and a 1 year high of $338.88. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.28 by $0.12. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company posted $1.88 earnings per share. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.12%. Eaton’s dividend payout ratio is currently 44.39%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the sale, the insider now owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value 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 document filed with the SEC, which is available at the SEC website. Also, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the transaction, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The disclosure for this sale can be found here. Insiders sold 17,174 shares of company stock worth $5,098,000 over the last ninety days. 0.33% of the stock is currently owned by insiders.

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.