Calamos Advisors LLC Sells 1,070 Shares of Eaton Co. plc (NYSE:ETN)

Calamos Advisors LLC cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.3% in the 4th quarter, Holdings Channel reports. The firm owned 81,900 shares of the industrial products company’s stock after selling 1,070 shares during the period. Calamos Advisors LLC’s holdings in Eaton were worth $19,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new stake in Eaton during the fourth quarter worth $25,000. PCA Investment Advisory Services Inc. bought a new position in shares of Eaton in the 2nd quarter valued at $27,000. Coppell Advisory Solutions Corp. bought a new position in shares of Eaton in the 4th quarter valued at $30,000. Valued Wealth Advisors LLC bought a new position in shares of Eaton in the 4th quarter valued at $35,000. Finally, Chilton Capital Management LLC bought a new position in shares of Eaton in the 4th quarter valued at $35,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Eaton news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Up 0.1 %

Shares of ETN traded up $0.46 during trading hours on Friday, hitting $309.40. The stock had a trading volume of 316,670 shares, compared to its average volume of 1,871,282. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The firm has a 50 day simple moving average of $300.20 and a 200-day simple moving average of $253.91. The firm has a market capitalization of $123.61 billion, a P/E ratio of 38.52, a price-to-earnings-growth ratio of 2.57 and a beta of 1.07. Eaton Co. plc has a 1-year low of $161.12 and a 1-year high of $331.47.

Eaton (NYSE:ETN) last announced 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 net margin of 13.88% and a return on equity of 20.05%. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the firm earned $2.06 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Sell-side analysts predict that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were given a $0.94 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.76 annualized dividend and a yield of 1.22%. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Analyst Ratings Changes

Several brokerages recently issued reports on ETN. Citigroup raised their target price on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Evercore ISI raised their target price on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Berenberg Bank increased their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Mizuho increased their price target on Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $286.00 to $371.00 in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

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.