Terra Alpha Investments LLC Has $3.89 Million Stake in Eaton Co. plc (NYSE:ETN)

Terra Alpha Investments LLC reduced its holdings in Eaton Co. plc (NYSE:ETN) by 7.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 14,312 shares of the industrial products company’s stock after selling 1,194 shares during the quarter. Eaton comprises 4.2% of Terra Alpha Investments LLC’s holdings, making the stock its 11th biggest holding. Terra Alpha Investments LLC’s holdings in Eaton were worth $3,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Bearing Point Capital LLC acquired a new position in Eaton during the fourth quarter valued at approximately $2,713,000. Strategic Financial Concepts LLC acquired a new stake in Eaton in the fourth quarter valued at $38,000. Kennebec Savings Bank grew its position in shares of Eaton by 5.4% in the 1st quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company’s stock valued at $738,000 after acquiring an additional 139 shares during the period. American National Bank & Trust increased its stake in shares of Eaton by 5.4% during the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company’s stock worth $855,000 after purchasing an additional 162 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Eaton in the 4th quarter valued at about $161,000. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ETN has been the topic of several research reports. KeyCorp upped their price objective on shares of Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Citigroup increased their price target on shares of Eaton from $323.00 to $351.00 and gave the company a “buy” rating in a report on Monday, May 5th. BNP Paribas Exane assumed coverage on Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Finally, Evercore ISI lifted their price target on Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $368.78.

Eaton Trading Down 1.8%

Shares of ETN stock opened at $325.61 on Tuesday. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The stock’s fifty day moving average price is $298.94 and its two-hundred day moving average price is $315.59. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market cap of $127.41 billion, a PE ratio of 34.27, a P/E/G ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.40 EPS. Equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.28%. Eaton’s dividend payout ratio (DPR) is currently 41.98%.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 51,054 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the transaction, the insider now owns 489,444 shares in the company, valued at $149,490,880.92. The trade was a 9.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. Company insiders own 0.30% of the company’s stock.

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.