Intact Investment Management Inc. Sells 300 Shares of Eaton Co. plc (NYSE:ETN)

Intact Investment Management Inc. trimmed its stake in Eaton Co. plc (NYSE:ETN) by 3.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,400 shares of the industrial products company’s stock after selling 300 shares during the period. Intact Investment Management Inc.’s holdings in Eaton were worth $1,782,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ETN. FMR LLC raised its stake in shares of Eaton by 36.0% in the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after acquiring an additional 5,270,331 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Eaton in the 3rd quarter worth approximately $340,500,000. Deutsche Bank AG increased its position in Eaton by 97.5% in the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock worth $396,767,000 after buying an additional 918,422 shares during the period. Artisan Partners Limited Partnership bought a new position in Eaton in the 3rd quarter worth approximately $67,305,000. Finally, International Assets Investment Management LLC increased its position in Eaton by 21,664.8% in the 4th quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock worth $76,157,000 after buying an additional 314,789 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the transaction, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is owned by insiders.

Eaton Trading Up 2.3 %

Shares of ETN stock traded up $7.20 on Friday, reaching $324.30. 2,305,692 shares of the stock were exchanged, compared to its average volume of 2,383,996. The stock has a market cap of $129.56 billion, a PE ratio of 40.44, a P/E/G ratio of 2.69 and a beta of 1.07. Eaton Co. plc has a one year low of $162.04 and a one year high of $331.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The stock has a 50 day moving average price of $304.82 and a 200 day moving average price of $258.60.

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

Eaton Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Citigroup lifted their price target on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Evercore ISI boosted their price objective on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. UBS Group boosted their price objective on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Wolfe Research restated an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research report on Monday, April 8th. Finally, The Goldman Sachs Group boosted their price objective on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $295.60.

Eaton 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.