Eaton Co. plc (NYSE:ETN) Stock Holdings Trimmed by Westhampton Capital LLC

Westhampton Capital LLC reduced its stake in Eaton Co. plc (NYSE:ETN) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,917 shares of the industrial products company’s stock after selling 135 shares during the period. Eaton makes up 4.3% of Westhampton Capital LLC’s portfolio, making the stock its 2nd biggest position. Westhampton Capital LLC’s holdings in Eaton were worth $7,791,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Congress Wealth Management LLC DE grew its stake in shares of Eaton by 51.7% in the first quarter. Congress Wealth Management LLC DE now owns 116,384 shares of the industrial products company’s stock worth $36,391,000 after acquiring an additional 39,653 shares during the last quarter. Claro Advisors LLC lifted its holdings in shares of Eaton by 4.0% during the first quarter. Claro Advisors LLC now owns 5,381 shares of the industrial products company’s stock valued at $1,683,000 after purchasing an additional 207 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of Eaton by 20.1% during the first quarter. Miracle Mile Advisors LLC now owns 4,333 shares of the industrial products company’s stock valued at $1,355,000 after purchasing an additional 726 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of Eaton by 29.7% during the first quarter. Diversified Trust Co now owns 12,762 shares of the industrial products company’s stock valued at $3,990,000 after purchasing an additional 2,922 shares in the last quarter. Finally, LVW Advisors LLC bought a new position in shares of Eaton during the first quarter valued at $428,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of ETN stock traded down $2.00 during trading hours on Tuesday, reaching $310.37. 802,625 shares of the company traded hands, compared to its average volume of 2,018,029. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. The company has a market cap of $124.09 billion, a P/E ratio of 36.86, a P/E/G ratio of 2.64 and a beta of 1.02. The firm has a 50-day moving average price of $325.35 and a 200 day moving average price of $293.12.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS. As a group, sell-side analysts predict that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Activity at Eaton

In related news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the sale, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ETN shares. HSBC upped their price target on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $286.00 to $371.00 in a report on Friday, April 5th. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. Argus increased their target price on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Berenberg Bank increased their target price on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average target price of $318.06.

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.