Aviance Capital Partners LLC Sells 200 Shares of Eaton Co. plc (NYSE:ETN)

Aviance Capital Partners LLC lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 8.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,042 shares of the industrial products company’s stock after selling 200 shares during the quarter. Aviance Capital Partners LLC’s holdings in Eaton were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new position in Eaton in the fourth quarter worth $25,000. Valued Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter valued at approximately $35,000. Chilton Capital Management LLC acquired a new stake in Eaton during the 4th quarter worth $35,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Eaton in the 3rd quarter valued at $39,000. Finally, Fortitude Family Office LLC acquired a new position in Eaton in the fourth quarter valued at about $46,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of ETN traded up $0.06 during midday trading on Tuesday, hitting $327.30. 1,792,924 shares of the company traded hands, compared to its average volume of 2,025,208. The stock has a 50-day moving average of $310.41 and a 200-day moving average of $264.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. The firm has a market cap of $130.85 billion, a P/E ratio of 38.64, a PEG ratio of 2.54 and a beta of 1.06. Eaton Co. plc has a one year low of $165.24 and a one year high of $333.05.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the business earned $1.88 earnings per share. Eaton’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that Eaton Co. plc will post 10.45 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.15%. Eaton’s dividend payout ratio is presently 44.39%.

Analyst Ratings Changes

ETN has been the topic of a number of research analyst reports. UBS Group raised their price target on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Bank of America increased their price objective on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a research report on Monday, April 8th. Finally, HSBC increased their target price on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Insider Transactions at Eaton

In related news, insider Heath B. Monesmith sold 13,027 shares of the company’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 value of $3,796,067.80. Following the sale, the insider now 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 accessible through this link. In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the transaction, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction dated Monday, March 11th. The shares were 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 directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock valued at $10,904,774 in the last three months. 0.33% of the stock is currently owned by company insiders.

Eaton Company 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.