Guggenheim Capital LLC lessened its holdings in Eaton Co. PLC (NYSE:ETN) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,356 shares of the industrial products company’s stock after selling 7,720 shares during the period. Guggenheim Capital LLC’s holdings in Eaton were worth $10,827,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. AllSquare Wealth Management LLC acquired a new stake in shares of Eaton in the first quarter worth $27,000. Ameritas Investment Company LLC boosted its position in shares of Eaton by 369.1% in the fourth quarter. Ameritas Investment Company LLC now owns 380 shares of the industrial products company’s stock worth $36,000 after buying an additional 299 shares during the period. Lloyd Advisory Services LLC. acquired a new stake in shares of Eaton in the fourth quarter worth $36,000. Sowa Financial Group Inc. acquired a new stake in shares of Eaton in the fourth quarter worth $38,000. Finally, Lenox Wealth Management Inc. boosted its position in Eaton by 53.0% during the first quarter. Lenox Wealth Management Inc. now owns 439 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 152 shares during the last quarter. 78.27% of the stock is owned by institutional investors and hedge funds.

In related news, insider Richard H. Fearon sold 22,461 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $91.01, for a total transaction of $2,044,175.61. Following the transaction, the insider now directly owns 202,445 shares in the company, valued at $18,424,519.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Critelli sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $84.71, for a total value of $211,775.00. Following the transaction, the director now owns 50,566 shares in the company, valued at $4,283,445.86. The disclosure for this sale can be found here. Insiders sold 29,961 shares of company stock worth $2,661,001 over the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Shares of Eaton stock traded down $0.57 during trading on Friday, reaching $84.90. The company’s stock had a trading volume of 501,014 shares, compared to its average volume of 2,564,364. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.28 and a current ratio of 1.75. The business’s fifty day moving average price is $84.22 and its 200-day moving average price is $88.15. The firm has a market cap of $34.20 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.10 and a beta of 1.14. Eaton Co. PLC has a one year low of $56.42 and a one year high of $105.78.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.84 billion. Eaton had a return on equity of 14.67% and a net margin of 10.19%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. Sell-side analysts anticipate that Eaton Co. PLC will post 3.64 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a $0.73 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.44%. Eaton’s payout ratio is presently 51.50%.

A number of analysts recently issued reports on the company. Bank of America cut Eaton from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 26th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on Eaton from $81.00 to $89.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Credit Suisse Group lifted their price objective on Eaton from $88.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Deutsche Bank lifted their price objective on Eaton from $91.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Gordon Haskett raised Eaton from a “hold” rating to a “buy” rating and reduced their price objective for the company from $98.00 to $92.00 in a research report on Friday, April 3rd. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $93.12.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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