Eaton Co. plc (NYSE:ETN) Stock Position Reduced by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC decreased its stake in Eaton Co. plc (NYSE:ETN) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,139 shares of the industrial products company’s stock after selling 120 shares during the quarter. 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 also recently modified their holdings of ETN. Tennessee Valley Asset Management Partners purchased a new position in Eaton in the fourth quarter valued at about $25,000. LifeSteps Financial Inc. bought a new stake in shares of Eaton in the 1st quarter valued at approximately $25,000. Atwood & Palmer Inc. increased its holdings in Eaton by 142.9% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after buying an additional 50 shares during the last quarter. Clear Investment Research LLC bought a new position in Eaton during the fourth quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Eaton in the first quarter worth approximately $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Performance

ETN stock traded down $1.18 during midday trading on Monday, hitting $296.61. The stock had a trading volume of 2,237,908 shares, compared to its average volume of 2,067,481. The firm has a market capitalization of $118.58 billion, a price-to-earnings ratio of 35.16, a P/E/G ratio of 2.49 and a beta of 1.02. 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 has a 50-day simple moving average of $322.30 and a 200 day simple moving average of $304.13. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Monday, August 5th. Eaton’s dividend payout ratio (DPR) is 44.39%.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of recent research reports. Jefferies Financial Group raised their price target on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Wolfe Research reissued an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. Barclays lifted their price target on shares of Eaton from $316.00 to $318.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Finally, Raymond James assumed coverage on shares of Eaton in a report on Friday, June 28th. They set an “outperform” rating and a $375.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $323.06.

Eaton Company 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.