Eaton Co. plc (NYSE:ETN) Stock Position Reduced by Game Plan Financial Advisors LLC

Game Plan Financial Advisors LLC trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,575 shares of the industrial products company’s stock after selling 500 shares during the quarter. Eaton comprises 2.1% of Game Plan Financial Advisors LLC’s portfolio, making the stock its 12th largest position. Game Plan Financial Advisors LLC’s holdings in Eaton were worth $4,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atwood & Palmer Inc. raised its position in shares of Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in Eaton in the 4th quarter valued at approximately $25,000. Clear Investment Research LLC acquired a new stake in Eaton in the 4th quarter valued at approximately $29,000. Valued Wealth Advisors LLC acquired a new stake in Eaton in the 4th quarter valued at approximately $35,000. Finally, Chilton Capital Management LLC acquired a new stake in Eaton in the 4th quarter valued at approximately $35,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Peter Denk sold 2,416 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction 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 through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Up 0.8 %

Shares of Eaton stock traded up $2.70 during midday trading on Monday, hitting $322.76. The company’s stock had a trading volume of 427,991 shares, compared to its average volume of 2,015,447. The firm has a market capitalization of $129.04 billion, a P/E ratio of 37.79, a PEG ratio of 2.70 and a beta of 1.04. The stock has a 50-day simple moving average of $324.66 and a 200-day simple moving average of $290.17. 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 1-year low of $191.82 and a 1-year high of $345.19.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the firm posted $1.88 earnings per share. Eaton’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts expect that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on ETN. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. Mizuho reaffirmed a “buy” rating and set a $355.00 price target (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Berenberg Bank increased their price target on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Argus increased their price target on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Eaton Company 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.