Eaton Co. plc (NYSE:ETN) Shares Sold by Fiduciary Group LLC

Fiduciary Group LLC decreased its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,387 shares of the industrial products company’s stock after selling 112 shares during the period. Fiduciary Group LLC’s holdings in Eaton were worth $2,020,000 as of its most recent SEC filing.

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

Insider Activity at Eaton

In related news, insider Olivier Leonetti sold 4,461 shares of the firm’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 transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Olivier Leonetti sold 4,461 shares of the firm’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 transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ETN. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $286.00 to $371.00 in a research report on Friday, April 5th. The Goldman Sachs Group raised their price objective on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Berenberg Bank raised their price objective on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Mizuho raised their target price on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Citigroup raised their target price on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One investment 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 MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average target price of $295.60.

Eaton Stock Performance

ETN stock opened at $327.30 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. The stock has a market cap of $130.76 billion, a P/E ratio of 40.44, a P/E/G ratio of 2.69 and a beta of 1.07. The firm has a 50 day simple moving average of $304.82 and a 200 day simple moving average of $258.90. Eaton Co. plc has a 52 week low of $165.24 and a 52 week high of $331.47.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.06 earnings per share. Research analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is presently 46.88%.

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.