Rehmann Capital Advisory Group Cuts Stake in Eaton Co. plc (NYSE:ETN)

Rehmann Capital Advisory Group reduced its stake in Eaton Co. plc (NYSE:ETNGet Rating) by 37.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,673 shares of the industrial products company’s stock after selling 986 shares during the period. Rehmann Capital Advisory Group’s holdings in Eaton were worth $254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Management Professionals Inc. lifted its holdings in shares of Eaton by 288.6% during the first quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 127 shares in the last quarter. Hazlett Burt & Watson Inc. bought a new position in Eaton in the first quarter valued at about $30,000. Steward Financial Group LLC bought a new position in Eaton in the first quarter valued at about $32,000. Baldwin Brothers LLC MA lifted its holdings in Eaton by 63.0% in the first quarter. Baldwin Brothers LLC MA now owns 220 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 85 shares during the period. Finally, Princeton Global Asset Management LLC lifted its holdings in Eaton by 588.6% in the first quarter. Princeton Global Asset Management LLC now owns 241 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 206 shares during the period. 80.54% of the stock is owned by institutional investors.

Eaton Stock Down 2.0 %

NYSE:ETN opened at $138.27 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.97 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average is $141.80 and its two-hundred day moving average is $142.03. Eaton Co. plc has a 52 week low of $122.50 and a 52 week high of $175.72. The stock has a market capitalization of $55.07 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 1.72 and a beta of 1.20.

Eaton (NYSE:ETNGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.05. Eaton had a return on equity of 17.04% and a net margin of 11.70%. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the firm earned $1.72 earnings per share. Eaton’s quarterly revenue was down .1% on a year-over-year basis. Research analysts anticipate that Eaton Co. plc will post 7.55 EPS for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a dividend of $0.81 per share. The ex-dividend date was Thursday, August 11th. This represents a $3.24 dividend on an annualized basis and a yield of 2.34%. Eaton’s dividend payout ratio (DPR) is 56.15%.

Insiders Place Their Bets

In other news, Director Deborah L. Mccoy sold 3,000 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $148.72, for a total value of $446,160.00. Following the sale, the director now owns 12,856 shares in the company, valued at approximately $1,911,944.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Eaton news, Director Deborah L. Mccoy sold 3,000 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $148.72, for a total value of $446,160.00. Following the completion of the transaction, the director now owns 12,856 shares in the company, valued at approximately $1,911,944.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel Roy Hopgood sold 1,500 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $151.70, for a total transaction of $227,550.00. Following the completion of the transaction, the insider now owns 7,593 shares of the company’s stock, valued at $1,151,858.10. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ETN. Citigroup increased their target price on Eaton from $150.00 to $170.00 in a report on Thursday, August 4th. The Goldman Sachs Group decreased their price objective on Eaton from $175.00 to $146.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. Barclays raised their price objective on Eaton from $112.00 to $124.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 3rd. Wells Fargo & Company raised their price objective on Eaton from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 3rd. Finally, Royal Bank of Canada increased their target price on Eaton from $139.00 to $145.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $160.15.

Eaton Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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