Eaton Co. plc (NYSE:ETN) Stock Position Reduced by Prospera Financial Services Inc

Prospera Financial Services Inc lessened its position in shares of Eaton Co. plc (NYSE:ETNGet Rating) by 16.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,997 shares of the industrial products company’s stock after selling 388 shares during the period. Prospera Financial Services Inc’s holdings in Eaton were worth $303,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ETN. Norges Bank acquired a new stake in shares of Eaton during the 4th quarter worth approximately $1,235,314,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Eaton during the 1st quarter worth approximately $302,564,000. Pictet Asset Management SA raised its position in shares of Eaton by 404.1% during the 4th quarter. Pictet Asset Management SA now owns 1,876,676 shares of the industrial products company’s stock worth $324,327,000 after purchasing an additional 1,504,415 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Eaton by 15.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,455,308 shares of the industrial products company’s stock worth $592,309,000 after purchasing an additional 451,727 shares during the period. Finally, Clean Energy Transition LLP acquired a new stake in shares of Eaton during the 4th quarter worth approximately $76,586,000. Institutional investors own 79.10% of the company’s stock.

Analysts Set New Price Targets

ETN has been the topic of a number of research reports. Mizuho dropped their price target on Eaton from $185.00 to $145.00 and set a “buy” rating on the stock in a research report on Monday, July 18th. StockNews.com upgraded Eaton from a “hold” rating to a “buy” rating in a research report on Friday, July 8th. Wells Fargo & Company lowered their target price on Eaton from $142.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 12th. Robert W. Baird raised their target price on Eaton to $144.00 in a research report on Tuesday. Finally, The Goldman Sachs Group lowered their target price on Eaton from $175.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.00.

Eaton Stock Performance

ETN opened at $146.39 on Wednesday. The firm has a market cap of $58.41 billion, a PE ratio of 26.47, a P/E/G ratio of 1.80 and a beta of 1.19. The company has a quick ratio of 0.59, a current ratio of 0.99 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $133.81 and a 200-day simple moving average of $144.37. Eaton Co. plc has a fifty-two week low of $122.50 and a fifty-two week high of $175.72.

Eaton (NYSE:ETNGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.05. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.22 billion. Eaton had a return on equity of 16.92% and a net margin of 11.21%. The company’s revenue was down .1% compared to the same quarter last year. During the same period last year, the company posted $1.72 EPS. As a group, equities analysts predict that Eaton Co. plc will post 7.47 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, August 11th. Eaton’s dividend payout ratio is presently 58.59%.

Insider Transactions at Eaton

In other news, insider Boise April Miller sold 12,283 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $138.66, for a total transaction of $1,703,160.78. Following the completion of the sale, the insider now directly owns 11,435 shares of the company’s stock, valued at approximately $1,585,577.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Eaton Profile

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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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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