FourThought Financial LLC Sells 324 Shares of Eaton Co. plc (NYSE:ETN)

FourThought Financial LLC decreased its holdings in shares of Eaton Co. plc (NYSE:ETN – Get Rating) by 18.3% in the third quarter, Holdings Channel.com reports. The firm owned 1,443 shares of the industrial products company’s stock after selling 324 shares during the period. FourThought Financial LLC’s holdings in Eaton were worth $192,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Doyle Wealth Management grew its holdings in shares of Eaton by 2.4% during the third quarter. Doyle Wealth Management now owns 2,777 shares of the industrial products company’s stock valued at $370,000 after buying an additional 66 shares during the last quarter. Covenant Asset Management LLC grew its holdings in shares of Eaton by 1.7% during the third quarter. Covenant Asset Management LLC now owns 4,054 shares of the industrial products company’s stock valued at $541,000 after buying an additional 68 shares during the last quarter. First Hawaiian Bank grew its holdings in shares of Eaton by 0.8% during the third quarter. First Hawaiian Bank now owns 9,250 shares of the industrial products company’s stock valued at $1,234,000 after buying an additional 70 shares during the last quarter. Hyman Charles D grew its holdings in shares of Eaton by 1.8% during the third quarter. Hyman Charles D now owns 3,992 shares of the industrial products company’s stock valued at $532,000 after buying an additional 72 shares during the last quarter. Finally, Key Financial Inc grew its holdings in shares of Eaton by 8.8% during the third quarter. Key Financial Inc now owns 956 shares of the industrial products company’s stock valued at $127,000 after buying an additional 77 shares during the last quarter. Institutional investors own 80.19% of the company’s stock.

Eaton Stock Down 2.6 %

ETN stock opened at $160.15 on Friday. Eaton Co. plc has a twelve month low of $122.50 and a twelve month high of $178.75. The company has a quick ratio of 0.84, a current ratio of 1.38 and a debt-to-equity ratio of 0.49. The stock has a market cap of $63.74 billion, a P/E ratio of 26.04, a PEG ratio of 1.89 and a beta of 1.13. The business’s 50-day moving average price is $167.27 and its 200-day moving average price is $155.97.

Eaton (NYSE:ETN – Get Rating) last posted its quarterly earnings data on Wednesday, February 8th. The industrial products company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.01. Eaton had a return on equity of 18.31% and a net margin of 11.86%. The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.34 billion. During the same period in the previous year, the firm earned $1.72 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities research analysts forecast that Eaton Co. plc will post 8.24 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Monday, March 6th will be given a dividend of $0.86 per share. This is a boost from Eaton’s previous quarterly dividend of $0.81. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, March 3rd. Eaton’s payout ratio is presently 55.94%.

Insider Activity

In other news, insider Joao V. Faria sold 2,326 shares of Eaton stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $171.23, for a total transaction of $398,280.98. Following the transaction, the insider now directly owns 77,626 shares of the company’s stock, valued at approximately $13,291,899.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Joao V. Faria sold 2,326 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $171.23, for a total value of $398,280.98. Following the transaction, the insider now directly owns 77,626 shares of the company’s stock, valued at approximately $13,291,899.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian S. Brickhouse sold 21,347 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $176.97, for a total value of $3,777,778.59. Following the completion of the transaction, the insider now directly owns 15,905 shares in the company, valued at $2,814,707.85. The disclosure for this sale can be found here. Insiders have sold a total of 33,377 shares of company stock valued at $5,864,193 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Eaton from $149.00 to $161.00 and gave the company a “sector perform” rating in a report on Thursday, February 9th. Oppenheimer downgraded shares of Eaton from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 6th. Bank of America increased their price objective on shares of Eaton from $180.00 to $200.00 in a research report on Wednesday, March 8th. Wells Fargo & Company increased their price objective on shares of Eaton from $169.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, February 9th. Finally, StockNews.com initiated coverage on shares of Eaton in a research report on Thursday. They set a “strong-buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average price target of $173.00.

Eaton Profile

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Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.