Alphastar Capital Management LLC lessened its stake in Eaton Co. plc (NYSE:ETN – Get Rating) by 36.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,900 shares of the industrial products company’s stock after selling 3,433 shares during the quarter. Alphastar Capital Management LLC’s holdings in Eaton were worth $1,008,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its stake in shares of Eaton by 1.5% in the third quarter. Checchi Capital Advisers LLC now owns 4,204 shares of the industrial products company’s stock worth $628,000 after buying an additional 64 shares during the period. Highland Private Wealth Management increased its stake in shares of Eaton by 3.9% in the fourth quarter. Highland Private Wealth Management now owns 1,706 shares of the industrial products company’s stock worth $295,000 after buying an additional 64 shares during the period. 180 Wealth Advisors LLC increased its stake in shares of Eaton by 2.5% in the fourth quarter. 180 Wealth Advisors LLC now owns 2,686 shares of the industrial products company’s stock worth $431,000 after buying an additional 65 shares during the period. Mayflower Financial Advisors LLC boosted its holdings in Eaton by 4.0% in the fourth quarter. Mayflower Financial Advisors LLC now owns 1,707 shares of the industrial products company’s stock valued at $295,000 after acquiring an additional 66 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in Eaton by 4.5% in the third quarter. Proficio Capital Partners LLC now owns 1,561 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 67 shares in the last quarter. 77.41% of the stock is owned by institutional investors.
In other news, Director Sandra Pianalto bought 243 shares of Eaton stock in a transaction that occurred on Tuesday, February 8th. The stock was bought at an average cost of $151.58 per share, with a total value of $36,833.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Joao V. Faria sold 11,852 shares of the stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $150.00, for a total transaction of $1,777,800.00. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.
Eaton (NYSE:ETN – Get Rating) last released its quarterly earnings results on Friday, February 4th. The industrial products company reported $1.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.01. Eaton had a net margin of 10.92% and a return on equity of 16.90%. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.91 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Eaton Co. plc will post 7.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Friday, March 11th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $3.24 annualized dividend and a dividend yield of 2.26%. This is a positive change from Eaton’s previous quarterly dividend of $0.76. Eaton’s dividend payout ratio is presently 60.67%.
Several analysts recently weighed in on the stock. Mizuho cut their price target on shares of Eaton from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Monday, February 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Eaton from $176.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. Credit Suisse Group lifted their price target on shares of Eaton from $184.00 to $186.00 and gave the company an “outperform” rating in a report on Monday, February 7th. Wolfe Research cut their price target on shares of Eaton from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Monday, February 7th. Finally, Wells Fargo & Company dropped their target price on shares of Eaton from $180.00 to $165.00 in a report on Monday, February 7th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $175.94.
Eaton Company Profile (Get Rating)
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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