Neville Rodie & Shaw Inc. Sells 14,308 Shares of Eaton Corporation, PLC $ETN

Neville Rodie & Shaw Inc. trimmed its position in Eaton Corporation, PLC (NYSE:ETN) by 37.8% in the fourth quarter, HoldingsChannel reports. The firm owned 23,501 shares of the industrial products company’s stock after selling 14,308 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Eaton were worth $7,485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Eaton by 1.4% in the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company’s stock worth $1,109,000 after buying an additional 45 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Eaton by 17.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 136 shares during the last quarter. Empowered Funds LLC lifted its holdings in Eaton by 5.6% during the first quarter. Empowered Funds LLC now owns 9,402 shares of the industrial products company’s stock worth $2,556,000 after acquiring an additional 496 shares during the period. Dorsey Wright & Associates purchased a new position in Eaton in the second quarter worth $237,000. Finally, Mediolanum International Funds Ltd grew its stake in Eaton by 93.4% in the 2nd quarter. Mediolanum International Funds Ltd now owns 106,114 shares of the industrial products company’s stock valued at $37,483,000 after purchasing an additional 51,255 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the subject of several research analyst reports. HSBC raised Eaton from a “hold” rating to a “buy” rating and set a $400.00 target price for the company in a research report on Friday, January 16th. Wells Fargo & Company increased their price target on shares of Eaton from $340.00 to $370.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $407.00 price objective on shares of Eaton in a research report on Wednesday, February 4th. Jefferies Financial Group assumed coverage on shares of Eaton in a research note on Monday. They issued a “buy” rating and a $430.00 target price on the stock. Finally, Barclays increased their target price on shares of Eaton from $350.00 to $354.00 and gave the company an “equal weight” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $395.11.

Insider Buying and Selling

In related news, insider Sternadt Paulo Ruiz sold 10,707 shares of Eaton stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $390.26, for a total value of $4,178,513.82. Following the completion of the transaction, the insider directly owned 27,729 shares in the company, valued at approximately $10,821,519.54. The trade was a 27.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

Eaton Trading Down 0.2%

Shares of ETN opened at $360.00 on Friday. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $408.45. The business has a 50-day moving average of $358.68 and a 200 day moving average of $355.54. The firm has a market cap of $139.67 billion, a P/E ratio of 34.42, a price-to-earnings-growth ratio of 2.48 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 1.32.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, February 26th. The industrial products company reported $3.23 EPS for the quarter. Eaton had a net margin of 14.89% and a return on equity of 25.00%. As a group, research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $1.04. Eaton’s dividend payout ratio is currently 42.07%.

Eaton Company Profile

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.