Eaton Co. plc (NYSE:ETN) Shares Sold by MJP Associates Inc. ADV

MJP Associates Inc. ADV lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,456 shares of the industrial products company’s stock after selling 47 shares during the quarter. MJP Associates Inc. ADV’s holdings in Eaton were worth $483,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton during the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in Eaton in the 4th quarter valued at approximately $30,000. Horizon Bancorp Inc. IN increased its holdings in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Eaton in the 4th quarter valued at approximately $33,000. Finally, Activest Wealth Management increased its holdings in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the sale, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This trade represents a 9.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

ETN has been the subject of several research reports. Royal Bank of Canada lifted their target price on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Jefferies Financial Group dropped their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. JPMorgan Chase & Co. boosted their target price on shares of Eaton from $289.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $355.00 target price on shares of Eaton in a research note on Monday, May 5th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $361.13.

Eaton Price Performance

ETN opened at $310.01 on Monday. The company has a fifty day simple moving average of $282.81 and a 200 day simple moving average of $319.96. The firm has a market cap of $121.31 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $2.40 EPS. Equities research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.34%. Eaton’s payout ratio is currently 41.98%.

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.