MONECO Advisors LLC Sells 416 Shares of Eaton Co. plc (NYSE:ETN)

MONECO Advisors LLC trimmed its stake in Eaton Co. plc (NYSE:ETN) by 15.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,281 shares of the industrial products company’s stock after selling 416 shares during the period. MONECO Advisors LLC’s holdings in Eaton were worth $549,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Eaton by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company’s stock worth $8,812,966,000 after acquiring an additional 259,615 shares in the last quarter. Northern Trust Corp increased its position in Eaton by 2.2% during the 3rd quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock valued at $1,068,412,000 after buying an additional 109,775 shares in the last quarter. Norges Bank acquired a new position in Eaton during the 4th quarter valued at about $1,087,983,000. Coatue Management LLC increased its position in Eaton by 5.2% during the 4th quarter. Coatue Management LLC now owns 3,986,445 shares of the industrial products company’s stock valued at $960,016,000 after buying an additional 195,809 shares in the last quarter. Finally, Raymond James & Associates increased its position in Eaton by 3.8% during the 4th quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock valued at $900,600,000 after buying an additional 138,465 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Stock Up 2.0 %

Eaton stock opened at $325.41 on Tuesday. The firm has a market cap of $130.10 billion, a price-to-earnings ratio of 38.42, a price-to-earnings-growth ratio of 2.67 and a beta of 1.04. Eaton Co. plc has a 52 week low of $189.26 and a 52 week high of $345.19. The business’s 50-day moving average price is $323.98 and its 200 day moving average price is $287.44. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the company earned $1.88 earnings per share. Eaton’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s payout ratio is currently 44.39%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ETN. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 target price on shares of Eaton in a research report on Monday, April 8th. Argus upped their target price on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Mizuho reaffirmed a “buy” rating and set a $355.00 target price (up from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. The Goldman Sachs Group increased their price objective on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Bank of America increased their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $314.27.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the sale, the insider now directly owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

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.