Eaton Co. plc (NYSE:ETN) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,075 shares of the industrial products company’s stock after selling 125 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Eaton were worth $2,908,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Suncoast Equity Management increased its holdings in shares of Eaton by 9.8% in the 3rd quarter. Suncoast Equity Management now owns 14,166 shares of the industrial products company’s stock valued at $3,021,000 after purchasing an additional 1,265 shares in the last quarter. Accurate Wealth Management LLC purchased a new position in Eaton in the 3rd quarter valued at approximately $226,000. Vicus Capital acquired a new position in Eaton during the third quarter worth $301,000. Callahan Advisors LLC grew its holdings in Eaton by 3.1% in the third quarter. Callahan Advisors LLC now owns 18,798 shares of the industrial products company’s stock valued at $4,009,000 after purchasing an additional 566 shares during the last quarter. Finally, Aua Capital Management LLC raised its stake in shares of Eaton by 25.3% during the 3rd quarter. Aua Capital Management LLC now owns 2,250 shares of the industrial products company’s stock worth $480,000 after buying an additional 455 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on ETN shares. Evercore ISI raised their target price on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Mizuho upped their target price on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Bank of America raised their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Finally, Citigroup lifted their price objective on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One investment 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. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Trading Down 2.5 %

ETN stock traded down $8.25 during trading on Tuesday, reaching $318.26. 5,267,331 shares of the stock traded hands, compared to its average volume of 2,011,320. The business’s 50 day moving average price is $305.81 and its 200-day moving average price is $259.67. The firm has a market capitalization of $127.14 billion, a PE ratio of 40.75, a P/E/G ratio of 2.69 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. Eaton Co. plc has a 52-week low of $165.24 and a 52-week high of $333.06.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company earned $2.06 EPS. The company’s revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.18%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Insider Transactions at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related 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 sale, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,593,380.58. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock valued at $10,904,774 over the last quarter. Company insiders own 0.33% of the company’s stock.

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.