Eaton Co. plc (NYSE:ETN) Shares Sold by KRS Capital Management LLC

KRS Capital Management LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 9.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,681 shares of the industrial products company’s stock after selling 292 shares during the quarter. KRS Capital Management LLC’s holdings in Eaton were worth $838,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ETN. Tennessee Valley Asset Management Partners purchased a new stake in shares of Eaton in the fourth quarter valued at approximately $25,000. Atwood & Palmer Inc. grew its position 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 acquiring an additional 50 shares during the period. Clear Investment Research LLC purchased a new position in Eaton in the fourth quarter worth approximately $29,000. Valued Wealth Advisors LLC purchased a new position in Eaton in the fourth quarter worth approximately $35,000. Finally, Chilton Capital Management LLC purchased a new position in Eaton in the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other Eaton news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is owned by corporate insiders.

Eaton Price Performance

ETN stock opened at $313.55 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. The company has a market cap of $125.36 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 2.63 and a beta of 1.04. The firm has a 50 day moving average of $325.35 and a 200-day moving average of $292.34.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the previous year, the company earned $1.88 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that Eaton Co. plc will post 10.56 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.20%. Eaton’s dividend payout ratio (DPR) is 44.39%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ETN shares. Berenberg Bank increased their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Bank of America upped their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Argus upped their price target on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Mizuho reiterated a “buy” rating and issued a $355.00 price objective (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $318.06.

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.