Boyd Watterson Asset Management LLC OH Sells 63 Shares of Eaton Co. plc (NYSE:ETN)

Boyd Watterson Asset Management LLC OH trimmed its position in Eaton Co. plc (NYSE:ETN) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,467 shares of the industrial products company’s stock after selling 63 shares during the period. Eaton accounts for approximately 2.3% of Boyd Watterson Asset Management LLC OH’s investment portfolio, making the stock its 10th biggest holding. Boyd Watterson Asset Management LLC OH’s holdings in Eaton were worth $5,892,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ETN. Meeder Asset Management Inc. boosted its position in Eaton by 3.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock valued at $317,000 after buying an additional 42 shares during the period. Telemus Capital LLC raised its stake in Eaton by 1.0% during the 4th quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock worth $990,000 after acquiring an additional 42 shares in the last quarter. Amarillo National Bank raised its stake in Eaton by 3.5% during the 4th quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 43 shares in the last quarter. Monument Capital Management raised its stake 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 acquiring an additional 44 shares in the last quarter. Finally, Red Spruce Capital LLC increased its stake in Eaton by 0.3% in the fourth quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock valued at $4,220,000 after purchasing an additional 45 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 2.3 %

Shares of NYSE:ETN traded up $7.20 during midday trading on Friday, reaching $324.30. The company’s stock had a trading volume of 2,305,692 shares, compared to its average volume of 2,383,996. The firm has a 50 day moving average price of $304.82 and a two-hundred day moving average price of $258.28. Eaton Co. plc has a fifty-two week low of $162.04 and a fifty-two week high of $331.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. The firm has a market capitalization of $129.56 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 2.63 and a beta of 1.07.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. Eaton’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.06 earnings per share. As a group, analysts forecast that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.16%. Eaton’s dividend payout ratio (DPR) is currently 46.88%.

Insider Activity

In other news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares in the company, valued at $171,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Mizuho boosted their price objective on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. UBS Group upped their price target on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Wolfe Research reissued an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a research report on Monday, April 8th. Evercore ISI upped their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, Bank of America upped their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

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.