Anchor Capital Advisors LLC Reduces Stake in Eaton Co. plc (NYSE:ETN)

Anchor Capital Advisors LLC lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,777 shares of the industrial products company’s stock after selling 1,170 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Eaton were worth $12,469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Adell Harriman & Carpenter Inc. boosted its stake in Eaton by 10.8% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 43,984 shares of the industrial products company’s stock valued at $10,592,000 after buying an additional 4,287 shares during the period. Choreo LLC boosted its position in shares of Eaton by 95.6% during the 4th quarter. Choreo LLC now owns 3,873 shares of the industrial products company’s stock valued at $933,000 after acquiring an additional 1,893 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Eaton by 20.3% during the fourth quarter. Mather Group LLC. now owns 3,716 shares of the industrial products company’s stock worth $895,000 after purchasing an additional 626 shares in the last quarter. Marco Investment Management LLC increased its position in shares of Eaton by 1.3% in the fourth quarter. Marco Investment Management LLC now owns 7,365 shares of the industrial products company’s stock worth $1,774,000 after purchasing an additional 98 shares during the last quarter. Finally, Silver Oak Securities Incorporated lifted its position in Eaton by 371.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,760 shares of the industrial products company’s stock valued at $424,000 after purchasing an additional 1,387 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Down 1.0 %

Shares of ETN stock traded down $3.37 during midday trading on Tuesday, reaching $323.14. 1,034,326 shares of the stock were exchanged, compared to its average volume of 1,958,997. The firm has a market cap of $129.09 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $305.81 and its two-hundred day moving average is $259.67. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $333.06.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS 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%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.06 earnings per share. On average, equities research analysts predict that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. The Goldman Sachs Group increased 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. Evercore ISI lifted their price target on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. UBS Group lifted their target price on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Citigroup upped their price target on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $295.60.

Insiders Place Their Bets

In other news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 630 shares in the company, valued at approximately $171,360. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. 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. 0.33% of the stock is currently owned by corporate insiders.

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.