PGGM Investments Sells 3,139 Shares of Eaton Co. plc (NYSE:ETN)

PGGM Investments lessened its stake in Eaton Co. plc (NYSE:ETN) by 48.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,396 shares of the industrial products company’s stock after selling 3,139 shares during the quarter. PGGM Investments’ holdings in Eaton were worth $818,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Tennessee Valley Asset Management Partners bought a new position in shares of Eaton during the 4th quarter valued at approximately $25,000. Valued Wealth Advisors LLC bought a new stake in Eaton during the 4th quarter valued at $35,000. Chilton Capital Management LLC acquired a new position in shares of Eaton during the 4th quarter worth about $35,000. Authentikos Wealth Advisory LLC purchased a new stake in Eaton during the 3rd quarter worth approximately $39,000. Finally, Fortitude Family Office LLC acquired a new stake in Eaton during the 4th quarter worth approximately $46,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ETN. Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 target price on shares of Eaton in a report on Monday, April 8th. Citigroup boosted their price target on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Mizuho raised their price target on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. The Goldman Sachs Group raised their price objective on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, Evercore ISI boosted their price objective on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus target price of $295.60.

Eaton Stock Performance

Shares of Eaton stock opened at $326.84 on Tuesday. The stock has a market cap of $130.57 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07. Eaton Co. plc has a 12 month low of $165.24 and a 12 month high of $331.47. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $305.81 and a 200-day simple moving average of $259.67.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.06 earnings per share. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. Eaton’s dividend payout ratio is currently 46.88%.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,969 shares of company stock valued at $10,904,774. 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.