Rehmann Capital Advisory Group Sells 986 Shares of Eaton Co. plc (NYSE:ETN)

Rehmann Capital Advisory Group lowered its stake in Eaton Co. plc (NYSE:ETNGet Rating) by 37.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,673 shares of the industrial products company’s stock after selling 986 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Eaton were worth $254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Vanguard Group Inc. increased its stake in shares of Eaton by 1.5% during the first quarter. Vanguard Group Inc. now owns 34,526,905 shares of the industrial products company’s stock valued at $5,239,803,000 after buying an additional 500,438 shares during the period. BlackRock Inc. increased its stake in shares of Eaton by 5.5% during the first quarter. BlackRock Inc. now owns 27,959,368 shares of the industrial products company’s stock valued at $4,243,113,000 after buying an additional 1,449,671 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Eaton by 3.5% during the first quarter. JPMorgan Chase & Co. now owns 26,578,334 shares of the industrial products company’s stock valued at $4,033,527,000 after buying an additional 900,550 shares during the period. State Street Corp increased its stake in shares of Eaton by 0.7% during the fourth quarter. State Street Corp now owns 16,615,642 shares of the industrial products company’s stock valued at $2,871,515,000 after buying an additional 115,947 shares during the period. Finally, Norges Bank purchased a new position in shares of Eaton during the fourth quarter valued at approximately $1,235,314,000. Institutional investors own 80.54% of the company’s stock.

Insider Activity

In other news, Director Deborah L. Mccoy sold 3,000 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $148.72, for a total transaction of $446,160.00. Following the transaction, the director now directly owns 12,856 shares of the company’s stock, valued at $1,911,944.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Deborah L. Mccoy sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $148.72, for a total value of $446,160.00. Following the transaction, the director now owns 12,856 shares of the company’s stock, valued at $1,911,944.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Roy Hopgood sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $151.70, for a total value of $227,550.00. Following the transaction, the insider now owns 7,593 shares of the company’s stock, valued at approximately $1,151,858.10. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Eaton Trading Down 2.0 %

NYSE ETN opened at $138.27 on Friday. The stock has a market cap of $55.07 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.72 and a beta of 1.20. The company has a current ratio of 0.97, a quick ratio of 0.58 and a debt-to-equity ratio of 0.38. Eaton Co. plc has a 12 month low of $122.50 and a 12 month high of $175.72. The stock’s fifty day moving average price is $141.80 and its 200-day moving average price is $142.03.

Eaton (NYSE:ETNGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.05. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.22 billion. Eaton had a return on equity of 17.04% and a net margin of 11.70%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $1.72 earnings per share. As a group, equities analysts forecast that Eaton Co. plc will post 7.55 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, August 11th. Eaton’s payout ratio is currently 56.15%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ETN. Royal Bank of Canada boosted their target price on Eaton from $139.00 to $145.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 3rd. Citigroup boosted their target price on Eaton from $150.00 to $170.00 in a research note on Thursday, August 4th. Credit Suisse Group upped their price target on Eaton from $158.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on Eaton from $178.00 to $156.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. Finally, The Goldman Sachs Group reduced their price target on Eaton from $175.00 to $146.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.15.

Eaton Company 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.

Further Reading

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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