Eaton Co. plc (NYSE:ETN) Shares Sold by North Star Asset Management Inc.

North Star Asset Management Inc. cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,791 shares of the industrial products company’s stock after selling 55 shares during the period. North Star Asset Management Inc.’s holdings in Eaton were worth $431,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Meeder Asset Management Inc. increased its stake in Eaton by 3.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 42 shares in the last quarter. Amarillo National Bank increased its position in shares of Eaton by 3.5% in the fourth quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock valued at $306,000 after buying an additional 43 shares in the last quarter. Red Spruce Capital LLC boosted its position in shares of Eaton by 0.3% in the 4th quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock worth $4,220,000 after buying an additional 45 shares in the last quarter. GSG Advisors LLC increased its holdings in Eaton by 2.1% during the 4th quarter. GSG Advisors LLC now owns 2,227 shares of the industrial products company’s stock valued at $519,000 after acquiring an additional 46 shares in the last quarter. Finally, Quent Capital LLC increased its stake in shares of Eaton by 3.8% during the 4th quarter. Quent Capital LLC now owns 1,334 shares of the industrial products company’s stock worth $321,000 after purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 0.4 %

NYSE:ETN traded up $1.29 during mid-day trading on Monday, reaching $304.31. The stock had a trading volume of 591,528 shares, compared to its average volume of 1,890,856. Eaton Co. plc has a 1-year low of $161.12 and a 1-year high of $331.47. 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 company has a market capitalization of $121.57 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The stock’s 50 day simple moving average is $300.70 and its two-hundred day simple moving average is $255.20.

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

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.24%. This is a boost from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, March 8th. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Insider Transactions at Eaton

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,969 shares of company stock worth $10,904,774. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ETN. Citigroup upped their price objective on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Berenberg Bank upped their target price on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Evercore ISI raised their target price 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. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Finally, Bank of America boosted their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $295.60.

About Eaton

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.