XML Financial LLC Sells 48 Shares of Eaton Co. plc (NYSE:ETN)

XML Financial LLC reduced its position in Eaton Co. plc (NYSE:ETNFree Report) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,211 shares of the industrial products company’s stock after selling 48 shares during the period. XML Financial LLC’s holdings in Eaton were worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ETN. Tennessee Valley Asset Management Partners purchased a new position in shares of Eaton in the fourth quarter worth $25,000. Clear Investment Research LLC purchased a new position in shares of Eaton in the fourth quarter worth $29,000. Valued Wealth Advisors LLC purchased a new position in shares of Eaton in the fourth quarter worth $35,000. Chilton Capital Management LLC purchased a new position in shares of Eaton in the fourth quarter worth $35,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Eaton in the fourth quarter worth $41,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Up 2.6 %

Shares of ETN opened at $323.00 on Tuesday. Eaton Co. plc has a twelve month low of $185.55 and a twelve month high of $345.19. The company has a market cap of $129.14 billion, a P/E ratio of 38.13, a P/E/G ratio of 2.63 and a beta of 1.04. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $323.85 and its 200-day simple moving average is $284.04.

Eaton (NYSE:ETNGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.88 earnings per share. As a group, analysts expect that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Friday, May 3rd. Eaton’s payout ratio is presently 44.39%.

Insider Transactions at Eaton

In other news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were 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 in the company, valued at $1,687,738.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ETN shares. Wolfe Research reissued an “underperform” rating and issued a $312.00 target price on shares of Eaton in a report on Monday, April 8th. Berenberg Bank boosted their target price on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Argus upped their price target on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Bank of America upped their price target on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Evercore ISI upped their price target on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

View Our Latest Research Report on ETN

About Eaton

(Free Report)

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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