Eaton Co. plc (NYSE:ETN) Stake Trimmed by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. lowered its stake in Eaton Co. plc (NYSE:ETN) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,567 shares of the industrial products company’s stock after selling 110 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Eaton were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ETN. Ritholtz Wealth Management boosted its position in Eaton by 5.1% during the 4th quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock worth $1,379,000 after acquiring an additional 277 shares during the period. Pinnbrook Capital Management LP acquired a new stake in Eaton during the 4th quarter worth about $15,109,000. Congress Wealth Management LLC DE boosted its position in Eaton by 8.1% during the 4th quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock worth $18,479,000 after acquiring an additional 5,725 shares during the period. Pacer Advisors Inc. boosted its position in Eaton by 30.5% during the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after acquiring an additional 7,964 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in Eaton during the 4th quarter worth about $1,001,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Raymond James started coverage on Eaton in a research report on Friday, June 28th. They set an “outperform” rating and a $375.00 price objective for the company. The Goldman Sachs Group lifted their price target on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. HSBC lifted their price target on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, Wolfe Research reiterated an “underperform” rating and set a $312.00 price target on shares of Eaton in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $318.06.

Eaton Stock Up 0.3 %

ETN opened at $313.28 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The business has a 50 day moving average price of $325.44 and a 200 day moving average price of $293.64. The firm has a market cap of $125.25 billion, a P/E ratio of 36.99, a price-to-earnings-growth ratio of 2.64 and a beta of 1.02. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.28 by $0.12. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 EPS. Research analysts forecast that Eaton Co. plc will post 10.55 EPS for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, May 3rd. Eaton’s dividend payout ratio is currently 44.39%.

Insiders Place Their Bets

In other Eaton news, insider Peter Denk sold 2,416 shares of Eaton 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 transaction, the insider now directly owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

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.