Altrius Capital Management Inc Sells 1,302 Shares of Eaton Co. plc (NYSE:ETN)

Altrius Capital Management Inc lowered its stake in Eaton Co. plc (NYSE:ETN) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,368 shares of the industrial products company’s stock after selling 1,302 shares during the quarter. Eaton accounts for approximately 2.5% of Altrius Capital Management Inc’s portfolio, making the stock its 2nd largest position. Altrius Capital Management Inc’s holdings in Eaton were worth $8,999,000 as of its most recent SEC filing.

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

Insider Activity at Eaton

In other news, 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 completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were 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. Insiders have sold a total of 38,969 shares of company stock valued at $10,904,774 over the last 90 days. 0.33% of the stock is owned by insiders.

Eaton Price Performance

Eaton stock traded up $2.21 during midday trading on Monday, hitting $326.51. 3,120,883 shares of the company’s stock were exchanged, compared to its average volume of 1,971,206. The stock has a 50-day moving average price of $304.82 and a two-hundred day moving average price of $258.90. Eaton Co. plc has a 52-week low of $165.24 and a 52-week high of $331.47. The company has a market cap of $130.44 billion, a P/E ratio of 40.55, a PEG ratio of 2.69 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51.

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

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.15%. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ETN shares. Citigroup raised their price target on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Bank of America boosted their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Berenberg Bank lifted their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $295.60.

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.