Bouvel Investment Partners LLC Decreases Stake in Eaton Co. plc (NYSE:ETN)

Bouvel Investment Partners LLC cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 0.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,472 shares of the industrial products company’s stock after selling 109 shares during the quarter. Eaton comprises approximately 2.0% of Bouvel Investment Partners LLC’s portfolio, making the stock its 17th largest holding. Bouvel Investment Partners LLC’s holdings in Eaton were worth $4,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ETN. Tennessee Valley Asset Management Partners purchased a new stake in Eaton during the 4th quarter valued at $25,000. Atwood & Palmer Inc. lifted its stake in shares of Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares during the period. Clear Investment Research LLC bought a new stake in Eaton during the fourth quarter valued at approximately $29,000. Valued Wealth Advisors LLC bought a new position in Eaton in the fourth quarter worth approximately $35,000. Finally, Chilton Capital Management LLC bought a new stake in shares of Eaton during the 4th quarter valued at $35,000. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ETN has been the topic of several analyst reports. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Bank of America boosted their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. HSBC raised their target price on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. The Goldman Sachs Group upped their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. One 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.27.

Insider Transactions at Eaton

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

Eaton Stock Down 0.4 %

Shares of ETN stock traded down $1.33 during trading hours on Thursday, reaching $313.94. 2,525,075 shares of the company’s stock were exchanged, compared to its average volume of 2,024,264. The stock has a market cap of $125.51 billion, a PE ratio of 36.89, a PEG ratio of 2.70 and a beta of 1.04. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average price is $325.05 and its two-hundred day moving average price is $291.63. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19.

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, topping analysts’ consensus estimates 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 last year, the company posted $1.88 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Research analysts predict that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Friday, May 3rd. Eaton’s dividend payout ratio is presently 44.39%.

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.