US Bancorp DE Reduces Position in Eaton Co. plc (NYSE:ETN)

US Bancorp DE decreased its holdings in Eaton Co. plc (NYSE:ETN) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,910 shares of the industrial products company’s stock after selling 2,936 shares during the period. US Bancorp DE owned 0.05% of Eaton worth $51,996,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ETN. Tennessee Valley Asset Management Partners bought a new stake in Eaton during the 4th quarter valued at $25,000. Valued Wealth Advisors LLC purchased a new stake in Eaton during the 4th quarter worth about $35,000. Chilton Capital Management LLC bought a new position in Eaton in the 4th quarter worth about $35,000. Authentikos Wealth Advisory LLC purchased a new position in Eaton during the 3rd quarter valued at about $39,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter worth about $41,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. HSBC boosted their price objective on shares of Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. The Goldman Sachs Group lifted their price objective on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, March 15th. UBS Group lifted their price target on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Wolfe Research restated an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a research report on Monday, April 8th. Finally, Mizuho reiterated a “buy” rating and set a $355.00 target price (up from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Eaton Trading Up 0.7 %

Shares of NYSE:ETN traded up $2.47 on Friday, reaching $340.89. 1,495,686 shares of the company traded hands, compared to its average volume of 2,098,512. Eaton Co. plc has a 52 week low of $172.67 and a 52 week high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The business’s 50-day simple moving average is $320.31 and its 200 day simple moving average is $275.36. The stock has a market capitalization of $136.29 billion, a P/E ratio of 40.25, a price-to-earnings-growth ratio of 2.83 and a beta of 1.06.

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

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were issued a dividend of $0.94 per share. The ex-dividend date was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.10%. Eaton’s dividend payout ratio is currently 44.39%.

Insider Buying and Selling

In other news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the transaction, the insider now directly owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Peter Denk sold 2,416 shares of the 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 owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of Eaton 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 disclosure for this sale can be found here. Insiders have sold 17,174 shares of company stock valued at $5,098,000 over the last ninety days. 0.53% of the stock is owned by insiders.

Eaton Company 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.