Sage Mountain Advisors LLC Sells 145 Shares of Eaton Corporation, PLC (NYSE:ETN)

by · The Cerbat Gem

Sage Mountain Advisors LLC cut its holdings in shares of Eaton Corporation, PLC (NYSE:ETN – Free Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,281 shares of the industrial products company’s stock after selling 145 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Eaton were worth $1,435,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Eaton during the 4th quarter worth approximately $1,495,582,000. GAMMA Investing LLC boosted its position in Eaton by 27,281.9% in the first quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company’s stock valued at $976,772,000 after buying an additional 3,580,198 shares in the last quarter. Capital International Investors acquired a new stake in Eaton in the fourth quarter valued at approximately $523,541,000. Leigh Baldwin & CO. LLC acquired a new stake in Eaton in the fourth quarter valued at approximately $231,552,000. Finally, Janus Henderson Group PLC boosted its position in Eaton by 24.3% in the fourth quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company’s stock valued at $998,144,000 after buying an additional 588,370 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Trading Down 0.1%

NYSE:ETN opened at $360.32 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The firm has a 50-day moving average of $333.96 and a 200-day moving average of $313.47. The company has a market cap of $140.99 billion, a PE ratio of 36.36, a PEG ratio of 2.72 and a beta of 1.17. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $379.99.

Eaton (NYSE:ETN – Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.40 earnings per share. As a group, equities research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Monday, May 5th. Eaton’s payout ratio is 41.98%.

Analysts Set New Price Targets

ETN has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of Eaton from $351.00 to $420.00 and gave the stock a “buy” rating in a report on Monday. BNP Paribas initiated coverage on shares of Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price target on the stock. Sanford C. Bernstein reiterated an “outperform” rating and set a $396.00 price target on shares of Eaton in a report on Monday. Morgan Stanley cut their price target on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Eaton from $345.00 to $382.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $375.00.

View Our Latest Research Report on ETN

Insider Transactions at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider directly owned 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the transaction, the insider owned 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 over the last ninety days. 0.30% of the stock is currently owned by insiders.

About Eaton

(Free Report)

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.

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