Navellier & Associates Inc. Sells 901 Shares of Eaton Co. plc (NYSE:ETN)

Navellier & Associates Inc. decreased its holdings in Eaton Co. plc (NYSE:ETNGet Rating) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,703 shares of the industrial products company’s stock after selling 901 shares during the quarter. Navellier & Associates Inc.’s holdings in Eaton were worth $4,442,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Rodgers Brothers Inc. purchased a new stake in shares of Eaton during the 4th quarter valued at about $255,000. Quantitative Investment Management LLC boosted its stake in Eaton by 43.9% in the 4th quarter. Quantitative Investment Management LLC now owns 9,365 shares of the industrial products company’s stock worth $1,618,000 after purchasing an additional 2,859 shares during the period. Clearstead Advisors LLC boosted its stake in Eaton by 5.0% in the 4th quarter. Clearstead Advisors LLC now owns 17,750 shares of the industrial products company’s stock worth $3,068,000 after purchasing an additional 844 shares during the period. Blair William & Co. IL boosted its stake in Eaton by 2.2% in the 4th quarter. Blair William & Co. IL now owns 49,291 shares of the industrial products company’s stock worth $8,518,000 after purchasing an additional 1,045 shares during the period. Finally, MCF Advisors LLC boosted its position in shares of Eaton by 52.3% during the 4th quarter. MCF Advisors LLC now owns 1,578 shares of the industrial products company’s stock valued at $273,000 after acquiring an additional 542 shares during the last quarter. 79.10% of the stock is owned by institutional investors and hedge funds.

In other Eaton news, insider Joao V. Faria sold 11,852 shares of the business’s stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

Several research firms recently weighed in on ETN. Morgan Stanley increased their price target on Eaton to $180.00 and gave the company an “overweight” rating in a report on Tuesday, May 17th. Barclays lowered Eaton from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a research note on Tuesday. Wolfe Research cut their price target on Eaton from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Monday, February 7th. Credit Suisse Group cut their price target on Eaton from $187.00 to $179.00 in a research note on Wednesday, May 4th. Finally, StockNews.com upgraded Eaton from a “hold” rating to a “buy” rating in a research note on Friday, May 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Buy” and a consensus target price of $171.80.

Shares of Eaton stock traded up $2.20 on Thursday, reaching $136.28. The company’s stock had a trading volume of 47,917 shares, compared to its average volume of 2,162,135. The company has a market capitalization of $54.38 billion, a P/E ratio of 24.59, a PEG ratio of 1.65 and a beta of 1.15. Eaton Co. plc has a 52-week low of $130.43 and a 52-week high of $175.72. The stock has a 50-day moving average price of $145.93 and a 200-day moving average price of $156.71. The company has a quick ratio of 0.59, a current ratio of 0.99 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETNGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.78 billion. Eaton had a return on equity of 16.92% and a net margin of 11.21%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. Sell-side analysts forecast that Eaton Co. plc will post 7.52 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Thursday, May 12th. Eaton’s dividend payout ratio (DPR) is currently 58.59%.

About Eaton (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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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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