Bigelow Investment Advisors LLC Sells 795 Shares of Eaton Co. plc (NYSE:ETN)

Bigelow Investment Advisors LLC cut its position in shares of Eaton Co. plc (NYSE:ETN) by 19.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,362 shares of the industrial products company’s stock after selling 795 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in Eaton were worth $810,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Tennessee Valley Asset Management Partners bought a new position in shares of Eaton during the fourth quarter worth about $25,000. PCA Investment Advisory Services Inc. bought a new position in shares of Eaton during the 2nd quarter worth approximately $27,000. Coppell Advisory Solutions Corp. bought a new position in shares of Eaton during the 4th quarter worth approximately $30,000. Valued Wealth Advisors LLC acquired a new stake in Eaton during the 4th quarter worth approximately $35,000. Finally, Chilton Capital Management LLC acquired a new stake in Eaton during the 4th quarter worth approximately $35,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, 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 completion of the sale, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now owns 630 shares in the company, valued at $171,360. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. 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 90 days. Company insiders own 0.53% of the company’s stock.

Eaton Price Performance

Shares of ETN traded down $5.92 during midday trading on Friday, hitting $303.02. The company’s stock had a trading volume of 3,083,506 shares, compared to its average volume of 1,908,512. Eaton Co. plc has a one year low of $161.12 and a one year high of $331.47. The company’s fifty day simple moving average is $300.20 and its two-hundred day simple moving average is $253.91. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $121.06 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 2.57 and a beta of 1.07.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the company posted $2.06 EPS. Eaton’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts expect that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were paid a $0.94 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.76 annualized dividend and a dividend yield of 1.24%. Eaton’s dividend payout ratio is presently 46.88%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wolfe Research reissued an “underperform” rating and set a $312.00 price target on shares of Eaton in a report on Monday, April 8th. Bank of America lifted their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Citigroup lifted their price target on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. UBS Group lifted their price target on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Evercore ISI lifted their price target on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.