Dynamic Advisor Solutions LLC Reduces Stock Holdings in Eaton Co. plc (NYSE:ETN)

Dynamic Advisor Solutions LLC reduced its holdings in Eaton Co. plc (NYSE:ETN) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,235 shares of the industrial products company’s stock after selling 443 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Eaton were worth $2,510,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ETN. Capital A Wealth Management LLC acquired a new position in shares of Eaton in the 4th quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton in the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new position in shares of Eaton in the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton in the 4th quarter valued at $33,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Eaton in the 4th quarter valued at $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Up 4.4%

Shares of ETN opened at $337.95 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The firm has a 50-day moving average price of $306.54 and a 200 day moving average price of $313.96. The firm has a market capitalization of $132.24 billion, a P/E ratio of 35.57, a P/E/G ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the firm posted $2.40 earnings per share. Eaton’s quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.23%. The ex-dividend date was Monday, May 5th. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley reduced their price objective on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Wall Street Zen upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. JPMorgan Chase & Co. upped their price objective on shares of Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Citigroup upped their price objective on shares of Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, Jefferies Financial Group reduced their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $368.78.

Insiders Place Their Bets

In other Eaton news, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider now owns 3,382 shares of the company’s stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider now directly owns 490,208 shares of the company’s stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 over the last 90 days. 0.30% of the stock is owned by company insiders.

Eaton Profile

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.