Jefferies Group LLC decreased its holdings in Eaton Co., PLC (NYSE:ETN) by 56.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,277 shares of the industrial products company’s stock after selling 63,572 shares during the quarter. Jefferies Group LLC’s holdings in Eaton were worth $3,814,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Independence Bank of Kentucky acquired a new position in shares of Eaton in the 4th quarter valued at $118,000. Delpha Capital Management LLC acquired a new position in shares of Eaton in the 4th quarter valued at $124,000. Fieldpoint Private Securities LLC acquired a new position in shares of Eaton in the 3rd quarter valued at $130,000. Montag A & Associates Inc. acquired a new stake in shares of Eaton during the 4th quarter worth about $201,000. Finally, Murphy Capital Management Inc. acquired a new stake in shares of Eaton during the 4th quarter worth about $201,000. Institutional investors own 78.90% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Jefferies Group reiterated a “hold” rating and set a $90.00 target price on shares of Eaton in a research report on Friday, February 2nd. Stifel Nicolaus upgraded shares of Eaton from a “hold” rating to a “buy” rating and increased their target price for the stock from $77.00 to $99.00 in a research report on Sunday, February 4th. Zacks Investment Research upgraded shares of Eaton from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Finally, UBS assumed coverage on shares of Eaton in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $87.00 target price for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $87.53.
NYSE:ETN traded down $2.22 during mid-day trading on Monday, reaching $77.69. 2,392,303 shares of the company were exchanged, compared to its average volume of 2,934,503. Eaton Co., PLC has a 12 month low of $69.82 and a 12 month high of $89.85. The company has a quick ratio of 1.13, a current ratio of 1.64 and a debt-to-equity ratio of 0.41. The firm has a market cap of $35,176.38, a P/E ratio of 16.71, a P/E/G ratio of 1.57 and a beta of 1.36.
Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. Eaton had a net margin of 14.60% and a return on equity of 12.84%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The company’s revenue was up 7.1% on a year-over-year basis. equities analysts predict that Eaton Co., PLC will post 5.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Monday, March 12th were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, March 9th. This represents a $2.64 dividend on an annualized basis and a yield of 3.40%. This is a positive change from Eaton’s previous quarterly dividend of $0.60. Eaton’s dividend payout ratio is currently 56.77%.
In other news, insider Ken D. Semelsberger sold 15,595 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $82.67, for a total value of $1,289,238.65. Following the transaction, the insider now owns 104,613 shares of the company’s stock, valued at approximately $8,648,356.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deborah L. Mccoy sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $82.23, for a total transaction of $328,920.00. Following the completion of the transaction, the director now directly owns 35,936 shares in the company, valued at approximately $2,955,017.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,769 shares of company stock worth $2,083,823. Insiders own 0.50% of the company’s stock.
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Eaton Company Profile
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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