Allstate Corp Sells 232 Shares of Eaton Co. plc (NYSE:ETN)

Allstate Corp lessened its stake in Eaton Co. plc (NYSE:ETN) by 13.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,460 shares of the industrial products company’s stock after selling 232 shares during the period. Allstate Corp’s holdings in Eaton were worth $352,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ETN. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Eaton by 3,435.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 707 shares of the industrial products company’s stock worth $153,000 after acquiring an additional 687 shares during the period. Signaturefd LLC grew its holdings in Eaton by 11.7% during the 3rd quarter. Signaturefd LLC now owns 10,969 shares of the industrial products company’s stock worth $2,339,000 after acquiring an additional 1,149 shares during the period. Syon Capital LLC acquired a new stake in Eaton during the 3rd quarter worth $972,000. NBC Securities Inc. acquired a new stake in Eaton during the 3rd quarter worth $255,000. Finally, Breakwater Capital Group grew its holdings in shares of Eaton by 13.4% in the 3rd quarter. Breakwater Capital Group now owns 2,160 shares of the industrial products company’s stock valued at $464,000 after buying an additional 256 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

ETN has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. Evercore ISI boosted their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. UBS Group boosted their price target on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Insider Buying and Selling

In other Eaton news, insider Peter Denk sold 2,416 shares of Eaton 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 sale, the insider now owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Eaton news, insider Peter Denk sold 2,416 shares of Eaton 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 sale, the insider now owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,174 shares of company stock worth $5,098,000. 0.53% of the stock is owned by insiders.

Eaton Stock Up 1.7 %

NYSE:ETN traded up $5.55 during trading hours on Thursday, reaching $341.73. The company had a trading volume of 879,470 shares, compared to its average volume of 1,972,397. The firm has a market cap of $136.62 billion, a price-to-earnings ratio of 39.68, a P/E/G ratio of 2.82 and a beta of 1.06. The business’s 50-day simple moving average is $318.69 and its two-hundred day simple moving average is $274.05. Eaton Co. plc has a twelve month low of $167.33 and a twelve month high of $344.00. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.

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

Eaton Announces Dividend

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

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.