Eaton Co. plc (NYSE:ETN) Shares Sold by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC lowered its holdings in Eaton Co. plc (NYSE:ETNFree Report) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,869 shares of the industrial products company’s stock after selling 120 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Eaton were worth $691,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Eaton by 0.5% during the third quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock worth $7,749,751,000 after buying an additional 176,900 shares in the last quarter. FMR LLC grew its holdings in shares of Eaton by 36.0% in the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after acquiring an additional 5,270,331 shares during the period. Northern Trust Corp increased its stake in Eaton by 2.2% in the 3rd quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock valued at $1,068,412,000 after purchasing an additional 109,775 shares in the last quarter. Raymond James & Associates raised its holdings in Eaton by 3.8% during the fourth quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock worth $900,600,000 after purchasing an additional 138,465 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Eaton by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,163,432 shares of the industrial products company’s stock worth $520,998,000 after purchasing an additional 27,386 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Eaton news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now owns 5,514 shares in the company, valued at approximately $1,593,380.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of Eaton 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 sale, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $500,207.07. Following the sale, the insider now directly 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. Over the last three months, insiders sold 17,174 shares of company stock worth $5,098,000. 0.33% of the stock is currently owned by company insiders.

Eaton Trading Up 2.1 %

Shares of NYSE ETN traded up $6.90 during trading on Wednesday, hitting $337.35. 496,224 shares of the company traded hands, compared to its average volume of 1,989,960. The firm has a market capitalization of $134.87 billion, a P/E ratio of 39.88, a P/E/G ratio of 2.59 and a beta of 1.06. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $338.15. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $314.32 and a 200-day moving average price of $269.27.

Eaton (NYSE:ETNGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the previous year, the company posted $1.88 earnings per share. Eaton’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts predict that Eaton Co. plc will post 10.47 EPS for the current year.

Eaton Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.11%. Eaton’s payout ratio is currently 44.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ETN shares. Evercore ISI lifted their price target on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. UBS Group lifted their target price 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. Wolfe Research reissued an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. JPMorgan Chase & Co. upped their target price on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Argus raised their price target on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.27.

Read Our Latest Stock Report on ETN

Eaton Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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