Moody Lynn & Lieberson LLC Sells 1,661 Shares of Eaton Corporation, PLC (NYSE:ETN)

Moody Lynn & Lieberson LLC trimmed its position in Eaton Corporation, PLC (NYSE:ETN) by 2.1% in the first quarter, Holdings Channel reports. The fund owned 77,097 shares of the industrial products company’s stock after selling 1,661 shares during the quarter. Eaton accounts for 1.3% of Moody Lynn & Lieberson LLC’s portfolio, making the stock its 25th largest holding. Moody Lynn & Lieberson LLC’s holdings in Eaton were worth $20,957,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Eaton by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock valued at $12,351,506,000 after buying an additional 99,291 shares in the last quarter. FMR LLC boosted its stake in Eaton by 1.2% in the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company’s stock worth $5,051,807,000 after purchasing an additional 182,455 shares during the period. Geode Capital Management LLC grew its position in shares of Eaton by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock valued at $2,714,677,000 after purchasing an additional 129,071 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Eaton by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company’s stock worth $1,550,226,000 after purchasing an additional 192,482 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Eaton by 8.8% during the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock worth $1,518,207,000 after purchasing an additional 368,241 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their price target on Eaton from $310.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Citigroup lifted their price objective on Eaton from $323.00 to $351.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Morgan Stanley decreased their price objective on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen raised shares of Eaton from a “hold” rating to a “buy” rating in a report on Sunday, May 18th. Finally, Royal Bank Of Canada upped their price objective on Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.06.

Insider Transactions at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider directly owned 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider directly owned 490,208 shares of the company’s stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 in the last ninety days. 0.30% of the stock is currently owned by insiders.

Eaton Stock Performance

ETN stock opened at $355.22 on Wednesday. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The company has a market capitalization of $139.00 billion, a P/E ratio of 35.84, a PEG ratio of 2.77 and a beta of 1.17. The business has a 50-day moving average price of $321.76 and a 200 day moving average price of $312.47.

Eaton (NYSE:ETN) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter last year, the company posted $2.40 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.17%. Eaton’s payout ratio is 41.98%.

About Eaton

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.