Eaton Co. plc (NYSE:ETN) Shares Sold by Northcape Wealth Management LLC

Northcape Wealth Management LLC cut its stake in Eaton Co. plc (NYSE:ETN) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,877 shares of the industrial products company’s stock after selling 460 shares during the period. Eaton makes up approximately 1.4% of Northcape Wealth Management LLC’s investment portfolio, making the stock its 18th biggest position. Northcape Wealth Management LLC’s holdings in Eaton were worth $3,824,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mission Wealth Management LP boosted its stake in Eaton by 9.3% during the fourth quarter. Mission Wealth Management LP now owns 4,306 shares of the industrial products company’s stock valued at $1,037,000 after buying an additional 366 shares in the last quarter. Penobscot Investment Management Company Inc. grew its stake in shares of Eaton by 3.9% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 3,092 shares of the industrial products company’s stock worth $745,000 after purchasing an additional 115 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of Eaton by 1.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 34,897 shares of the industrial products company’s stock worth $8,404,000 after purchasing an additional 448 shares in the last quarter. Adell Harriman & Carpenter Inc. boosted its holdings in Eaton by 10.8% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 43,984 shares of the industrial products company’s stock worth $10,592,000 after buying an additional 4,287 shares in the last quarter. Finally, Choreo LLC grew its position in Eaton by 95.6% in the fourth quarter. Choreo LLC now owns 3,873 shares of the industrial products company’s stock worth $933,000 after buying an additional 1,893 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ETN shares. UBS Group increased their price objective on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Wolfe Research reissued an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. The Goldman Sachs Group upped their price objective on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Berenberg Bank raised their price objective on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Evercore ISI increased their target price on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. One equities 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $295.60.

Eaton Stock Down 2.5 %

Shares of ETN stock traded down $8.15 on Tuesday, hitting $318.36. The company’s stock had a trading volume of 5,279,264 shares, compared to its average volume of 2,011,462. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The stock has a market capitalization of $127.18 billion, a price-to-earnings ratio of 40.75, a P/E/G ratio of 2.69 and a beta of 1.07. Eaton Co. plc has a fifty-two week low of $165.24 and a fifty-two week high of $333.05. The firm’s fifty day moving average price is $305.81 and its 200-day moving average price is $259.67.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating 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 prior year, the firm posted $2.06 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Research analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio is 46.88%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the sale, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock worth $10,904,774 over the last ninety days. 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.