Quadrature Capital Ltd Sells 58,326 Shares of Eaton Co. plc (NYSE:ETN)

Quadrature Capital Ltd reduced its stake in Eaton Co. plc (NYSE:ETN) by 50.2% during the 4th quarter, HoldingsChannel reports. The fund owned 57,970 shares of the industrial products company’s stock after selling 58,326 shares during the quarter. Quadrature Capital Ltd’s holdings in Eaton were worth $13,969,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC lifted its stake in Eaton by 2.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 37 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Eaton by 3.3% during the fourth quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 42 shares during the last quarter. Telemus Capital LLC grew its position in Eaton by 1.0% in the fourth quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock valued at $990,000 after purchasing an additional 42 shares in the last quarter. Amarillo National Bank increased its stake in Eaton by 3.5% in the 4th quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock valued at $306,000 after buying an additional 43 shares during the last quarter. Finally, Monument Capital Management lifted its position in Eaton by 1.9% during the 4th quarter. Monument Capital Management now owns 2,415 shares of the industrial products company’s stock worth $582,000 after buying an additional 44 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Argus upped their target price on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Wolfe Research reissued an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Evercore ISI boosted their target price on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Berenberg Bank increased their price target on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.27.

Eaton Trading Up 0.0 %

Shares of NYSE:ETN opened at $325.38 on Tuesday. The stock has a market cap of $130.09 billion, a PE ratio of 38.42, a P/E/G ratio of 2.67 and a beta of 1.04. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 12-month low of $189.26 and a 12-month high of $345.19. The business has a 50 day moving average of $323.98 and a 200-day moving average of $287.44.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the firm posted $1.88 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts forecast that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Friday, May 3rd. Eaton’s dividend payout ratio is currently 44.39%.

Insiders Place Their Bets

In related news, insider Peter Denk sold 2,416 shares of the business’s 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 completion of the sale, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.33% of the company’s stock.

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.