Csenge Advisory Group Sells 161 Shares of Eaton Co. plc (NYSE:ETN)

Csenge Advisory Group trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 6.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,266 shares of the industrial products company’s stock after selling 161 shares during the quarter. Csenge Advisory Group’s holdings in Eaton were worth $708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of ETN. Vanguard Group Inc. raised its stake in Eaton by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company’s stock valued at $8,812,966,000 after acquiring an additional 259,615 shares during the period. Norges Bank purchased a new stake in shares of Eaton during the 4th quarter valued at approximately $1,087,983,000. Coatue Management LLC boosted its holdings in Eaton by 5.2% in the 4th quarter. Coatue Management LLC now owns 3,986,445 shares of the industrial products company’s stock worth $960,016,000 after buying an additional 195,809 shares during the period. Raymond James & Associates grew its stake in Eaton by 1.7% in the 1st quarter. Raymond James & Associates now owns 3,804,171 shares of the industrial products company’s stock valued at $1,189,488,000 after buying an additional 64,446 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Eaton by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,163,432 shares of the industrial products company’s stock valued at $520,998,000 after acquiring an additional 27,386 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. HSBC lifted their price target on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. Mizuho reaffirmed a “buy” rating and set a $355.00 target price (up previously from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Finally, Barclays raised their price target on shares of Eaton from $316.00 to $318.00 and gave the company an “equal weight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average price target of $323.06.

Eaton Price Performance

Shares of Eaton stock opened at $328.78 on Friday. The business’s 50-day moving average price is $325.74 and its 200-day moving average price is $297.47. The firm has a market capitalization of $131.45 billion, a PE ratio of 38.82, a price-to-earnings-growth ratio of 2.75 and a beta of 1.02. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The company had revenue of $5.94 billion during 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 firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 EPS. Sell-side analysts forecast that Eaton Co. plc will post 10.55 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Activity at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of Eaton 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

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.