Great Valley Advisor Group Inc. Sells 194 Shares of Eaton Co. plc (NYSE:ETN)

Great Valley Advisor Group Inc. decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,713 shares of the industrial products company’s stock after selling 194 shares during the period. Great Valley Advisor Group Inc.’s holdings in Eaton were worth $653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ETN. Tennessee Valley Asset Management Partners purchased a new stake in Eaton in the fourth quarter worth about $25,000. Valued Wealth Advisors LLC purchased a new stake in shares of Eaton during the fourth quarter valued at about $35,000. Chilton Capital Management LLC purchased a new stake in shares of Eaton during the fourth quarter valued at about $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Eaton during the third quarter valued at about $39,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Eaton during the fourth quarter valued at about $46,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ETN shares. Citigroup increased their price target on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group increased their target price on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Barclays upgraded 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 research report on Tuesday, April 2nd. Wolfe Research restated an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Finally, UBS Group raised their target price on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Insiders Place Their Bets

In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock worth $10,904,774 over the last three months. 0.53% of the stock is owned by insiders.

Eaton Stock Up 2.0 %

Shares of NYSE:ETN opened at $320.50 on Friday. The stock’s fifty day simple moving average is $308.68 and its 200-day simple moving average is $261.94. Eaton Co. plc has a 52-week low of $165.24 and a 52-week high of $333.05. The company has a market capitalization of $128.14 billion, a P/E ratio of 37.84, a P/E/G ratio of 2.54 and a beta of 1.06. The company has a quick ratio of 1.02, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the business posted $1.88 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.17%. Eaton’s dividend payout ratio is presently 44.39%.

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.