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

Fiduciary Group LLC decreased its holdings in Eaton Co. plc (NYSE:ETN) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

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

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction 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 approximately $8,116,427.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction 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 approximately $8,116,427.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction 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 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. In the last three months, insiders sold 38,969 shares of company stock valued at $10,904,774. Insiders own 0.33% of the company’s stock.

Eaton Stock Performance

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

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the company posted $2.06 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts predict that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ETN shares. Berenberg Bank raised their price target on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Bank of America raised their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research report on Monday, April 8th. Finally, Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus price target 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.