Eaton Co. plc (NYSE:ETN) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,139 shares of the industrial products company’s stock after selling 120 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Eaton were worth $1,607,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ETN. Ritholtz Wealth Management increased its stake in Eaton by 5.1% during the 4th quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after purchasing an additional 277 shares in the last quarter. Pinnbrook Capital Management LP acquired a new stake in Eaton during the 4th quarter worth about $15,109,000. Congress Wealth Management LLC DE increased its holdings in shares of Eaton by 8.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after purchasing an additional 5,725 shares during the period. Norden Group LLC purchased a new position in shares of Eaton in the first quarter worth about $2,176,000. Finally, Weiss Asset Management LP acquired a new stake in shares of Eaton during the fourth quarter worth about $1,001,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE ETN traded down $1.18 during mid-day trading on Monday, reaching $296.61. The company’s stock had a trading volume of 2,237,908 shares, compared to its average volume of 2,067,481. The stock has a market capitalization of $118.58 billion, a P/E ratio of 35.16, a P/E/G ratio of 2.49 and a beta of 1.02. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The stock has a 50-day moving average of $322.30 and a two-hundred day moving average of $304.13.

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

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be issued a $0.94 dividend. The ex-dividend date is Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.27%. Eaton’s payout ratio is 44.39%.

Analyst Ratings Changes

Several analysts have commented on ETN shares. Barclays lifted their price objective on shares of Eaton from $316.00 to $318.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Raymond James initiated coverage on Eaton in a research note on Friday, June 28th. They issued an “outperform” rating and a $375.00 target price on the stock. HSBC lifted their price target on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Argus raised their price objective on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Mizuho reissued a “buy” rating and set a $355.00 price target (up from $340.00) on shares of Eaton in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.06.

Insider Activity

In related news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.

About Eaton

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.