1492 Capital Management LLC Sells 44 Shares of Eaton Co. plc (NYSE:ETN)

1492 Capital Management LLC lessened its stake in Eaton Co. plc (NYSE:ETNFree Report) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,038 shares of the industrial products company’s stock after selling 44 shares during the period. 1492 Capital Management LLC’s holdings in Eaton were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new position in Eaton in the fourth quarter worth $25,000. Valued Wealth Advisors LLC purchased a new position in shares of Eaton during the 4th quarter valued at about $35,000. Chilton Capital Management LLC acquired a new position in shares of Eaton in the 4th quarter valued at about $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Eaton in the third quarter worth about $39,000. Finally, Frazier Financial Advisors LLC acquired a new stake in Eaton during the fourth quarter worth about $41,000. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction 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 transaction, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Peter Denk sold 2,416 shares of the stock in a transaction dated Wednesday, May 8th. The shares were 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 in the company, valued at approximately $1,687,738.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, 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 90 days, insiders have sold 17,174 shares of company stock valued at $5,098,000. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on ETN. HSBC upped their price objective on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Bank of America boosted their target price on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Mizuho reiterated a “buy” rating and set a $355.00 price target (up previously from $340.00) on shares of Eaton in a report on Wednesday, May 1st. The Goldman Sachs Group upped their price objective on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Citigroup lifted their target price on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One investment 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.27.

Check Out Our Latest Analysis on Eaton

Eaton Stock Up 0.7 %

NYSE:ETN traded up $2.47 during trading hours on Monday, hitting $340.89. The company’s stock had a trading volume of 1,495,600 shares, compared to its average volume of 1,977,001. The stock has a market capitalization of $136.29 billion, a P/E ratio of 40.25, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. 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 stock has a fifty day moving average of $320.31 and a 200-day moving average of $276.19. Eaton Co. plc has a 52-week low of $172.67 and a 52-week high of $345.19.

Eaton (NYSE:ETNGet Free Report) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.12. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $1.88 EPS. On average, equities analysts forecast that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were paid a $0.94 dividend. The ex-dividend date was Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.10%. Eaton’s dividend payout ratio is presently 44.39%.

Eaton Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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