Allworth Financial LP decreased its position in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 16.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,900 shares of the industrial products company’s stock after selling 1,377 shares during the quarter. Allworth Financial LP’s holdings in Eaton were worth $1,182,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Horan Securities Inc. raised its position in Eaton by 228.6% during the 4th quarter. Horan Securities Inc. now owns 161 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 112 shares during the last quarter. Hollencrest Capital Management bought a new position in Eaton during the 4th quarter worth $28,000. RFP Financial Group LLC bought a new position in Eaton during the 4th quarter worth $30,000. Coppell Advisory Solutions Corp. bought a new position in Eaton during the 4th quarter worth $30,000. Finally, WFA of San Diego LLC bought a new position in Eaton during the 4th quarter worth $31,000. 81.31% of the stock is owned by institutional investors.
Eaton Stock Performance
Shares of Eaton stock opened at $201.06 on Friday. Eaton Co. plc has a one year low of $122.50 and a one year high of $202.35. The firm has a market capitalization of $80.14 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 2.09 and a beta of 1.12. The business has a 50-day simple moving average of $180.28 and a 200 day simple moving average of $169.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.50 and a quick ratio of 0.91.
Eaton Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Monday, May 8th were paid a dividend of $0.86 per share. The ex-dividend date was Friday, May 5th. This represents a $3.44 dividend on an annualized basis and a yield of 1.71%. Eaton’s dividend payout ratio (DPR) is currently 53.67%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on ETN. Barclays raised their target price on Eaton from $145.00 to $159.00 in a research report on Wednesday, May 3rd. JPMorgan Chase & Co. began coverage on Eaton in a research report on Tuesday, June 6th. They issued a “neutral” rating and a $178.00 price objective for the company. StockNews.com lowered Eaton from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Bank of America lifted their price objective on Eaton from $180.00 to $200.00 in a research report on Wednesday, March 8th. Finally, Wells Fargo & Company lowered their price objective on Eaton from $180.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, April 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $183.54.
Insider Buying and Selling at Eaton
In other news, insider Michael Yelton sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $197.11, for a total value of $394,220.00. Following the transaction, the insider now owns 2,096 shares in the company, valued at approximately $413,142.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.53% of the company’s stock.
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.
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