Steinberg Global Asset Management decreased its position in shares of Eaton Co. PLC (NYSE:ETN) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,393 shares of the industrial products company’s stock after selling 1,039 shares during the quarter. Steinberg Global Asset Management’s holdings in Eaton were worth $4,826,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Highwater Wealth Management LLC purchased a new stake in shares of Eaton during the 4th quarter worth approximately $26,000. Athena Capital Advisors LLC purchased a new stake in shares of Eaton during the 4th quarter worth approximately $27,000. Bremer Trust National Association purchased a new stake in shares of Eaton during the 4th quarter worth approximately $29,000. Legacy Financial Advisors Inc. boosted its stake in shares of Eaton by 53.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 454 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 159 shares in the last quarter. Finally, Berman Capital Advisors LLC purchased a new stake in shares of Eaton during the 4th quarter worth approximately $32,000. 78.14% of the stock is currently owned by institutional investors and hedge funds.
ETN stock traded down $0.27 on Monday, reaching $83.61. The company had a trading volume of 841,341 shares, compared to its average volume of 2,586,513. Eaton Co. PLC has a 1 year low of $64.46 and a 1 year high of $89.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.47. The firm has a market cap of $35.20 billion, a P/E ratio of 15.51, a PEG ratio of 1.53 and a beta of 1.48.
Eaton (NYSE:ETN) last posted its earnings results on Thursday, January 31st. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. Eaton had a return on equity of 14.06% and a net margin of 9.93%. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.42 billion. On average, research analysts predict that Eaton Co. PLC will post 5.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Saturday, March 9th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Thursday, March 7th. Eaton’s payout ratio is currently 52.69%.
Several equities research analysts have recently commented on ETN shares. Credit Suisse Group reissued an “outperform” rating and set a $80.00 price target (down previously from $85.00) on shares of Eaton in a research note on Thursday, January 3rd. Zacks Investment Research lowered Eaton from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Barclays decreased their price target on Eaton from $75.00 to $73.00 and set an “underweight” rating on the stock in a research note on Monday, January 7th. Wolfe Research lowered Eaton from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. Finally, Robert W. Baird set a $88.00 price target on Eaton and gave the stock a “buy” rating in a research note on Friday, January 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. Eaton has an average rating of “Hold” and an average target price of $86.80.
In related news, insider Nandakumar Cheruvatath sold 9,992 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $80.20, for a total value of $801,358.40. Following the sale, the insider now owns 14,569 shares of the company’s stock, valued at approximately $1,168,433.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Curtis J. Hutchins sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $80.60, for a total value of $967,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,214 shares of company stock worth $5,709,455. 0.70% of the stock is owned by corporate insiders.
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Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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