Carson Advisory Inc. Sells 211 Shares of Eaton Co. plc (NYSE:ETN)

Carson Advisory Inc. cut its holdings in Eaton Co. plc (NYSE:ETN) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,099 shares of the industrial products company’s stock after selling 211 shares during the period. Carson Advisory Inc.’s holdings in Eaton were worth $746,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Tennessee Valley Asset Management Partners acquired a new stake in Eaton during the fourth quarter worth about $25,000. Valued Wealth Advisors LLC acquired a new stake in Eaton in the 4th quarter valued at $35,000. Chilton Capital Management LLC acquired a new position in Eaton during the fourth quarter worth $35,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of Eaton in the 3rd quarter valued at $39,000. Finally, Legacy Financial Group LLC bought a new stake in shares of Eaton in the 3rd quarter worth about $43,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ETN has been the topic of a number of recent analyst reports. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price target on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup upped their target price on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Evercore ISI upped their target price 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 target price 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 investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $309.60.

Insider Buying and Selling at Eaton

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

Eaton Stock Up 1.0 %

ETN traded up $3.24 during trading hours on Thursday, hitting $315.27. 3,009,795 shares of the company’s stock were exchanged, compared to its average volume of 2,039,761. Eaton Co. plc has a 1-year low of $165.24 and a 1-year high of $333.05. The stock’s 50-day moving average is $307.35 and its two-hundred day moving average is $260.80. The stock has a market cap of $125.95 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 2.63 and a beta of 1.06. The company has a quick ratio of 1.02, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that Eaton Co. plc will post 10.33 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio is currently 44.39%.

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.