Eaton Co. plc (NYSE:ETN) Position Lessened by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 25.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,018 shares of the industrial products company’s stock after selling 1,743 shares during the period. SeaCrest Wealth Management LLC’s holdings in Eaton were worth $1,569,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners acquired a new stake in Eaton during the fourth quarter valued at $25,000. Atwood & Palmer Inc. raised its holdings in Eaton by 142.9% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after buying an additional 50 shares in the last quarter. Clear Investment Research LLC bought a new position in Eaton during the fourth quarter valued at about $29,000. Valued Wealth Advisors LLC bought a new position in Eaton during the fourth quarter valued at about $35,000. Finally, Chilton Capital Management LLC bought a new position in Eaton during the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was 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 of the company’s stock, valued at approximately $1,687,738.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.

Eaton Stock Up 0.3 %

NYSE ETN opened at $313.28 on Wednesday. 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 stock’s 50 day moving average is $325.44 and its two-hundred day moving average is $293.64. The company has a market capitalization of $125.25 billion, a price-to-earnings ratio of 36.99, a PEG ratio of 2.64 and a beta of 1.02. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.88 earnings per share. Equities analysts forecast that Eaton Co. plc will post 10.55 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s payout ratio is 44.39%.

Analyst Ratings Changes

Several research firms have weighed in on ETN. JPMorgan Chase & Co. raised their target price on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Mizuho reiterated a “buy” rating and issued a $355.00 price objective (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. The Goldman Sachs Group lifted their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Wolfe Research reiterated an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. Finally, Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $318.06.

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.