Aviance Capital Partners LLC Sells 84 Shares of Eaton Co. plc (NYSE:ETN)

Aviance Capital Partners LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,958 shares of the industrial products company’s stock after selling 84 shares during the period. Aviance Capital Partners LLC’s holdings in Eaton were worth $612,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Atwood & Palmer Inc. boosted its holdings in shares of Eaton by 142.9% during the first 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 purchased a new stake in shares of Eaton during the fourth quarter worth about $25,000. Clear Investment Research LLC purchased a new stake in shares of Eaton during the fourth quarter worth about $29,000. Valued Wealth Advisors LLC purchased a new stake in shares of Eaton during the fourth quarter worth about $35,000. Finally, Chilton Capital Management LLC purchased a new stake in shares of Eaton during the fourth quarter worth about $35,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ETN has been the subject of several research analyst reports. Argus raised their price objective on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price objective on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Mizuho restated a “buy” rating and issued a $355.00 price objective (up from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Finally, Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average price target of $318.06.

Eaton Stock Down 1.4 %

NYSE ETN traded down $4.34 during mid-day trading on Monday, reaching $309.21. The stock had a trading volume of 207,300 shares, compared to its average volume of 2,014,004. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The stock has a market cap of $123.62 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 2.64 and a beta of 1.02. The company has a fifty day moving average price of $325.35 and a 200 day moving average price of $293.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 EPS. On average, research analysts expect that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.22%. Eaton’s dividend payout ratio is presently 44.39%.

Insider Buying and Selling at Eaton

In other news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were 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 owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

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.