Argent Capital Management LLC Has $32.28 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Argent Capital Management LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 30.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 134,025 shares of the industrial products company’s stock after selling 58,787 shares during the quarter. Eaton makes up approximately 1.1% of Argent Capital Management LLC’s holdings, making the stock its 29th largest holding. Argent Capital Management LLC’s holdings in Eaton were worth $32,276,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. 1ST Source Bank lifted its stake in shares of Eaton by 12.6% in the 3rd quarter. 1ST Source Bank now owns 2,942 shares of the industrial products company’s stock valued at $627,000 after purchasing an additional 330 shares during the period. Lee Financial Co lifted its stake in shares of Eaton by 512.8% in the 3rd quarter. Lee Financial Co now owns 239 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 200 shares during the period. Rhumbline Advisers lifted its stake in shares of Eaton by 0.6% in the 3rd quarter. Rhumbline Advisers now owns 753,257 shares of the industrial products company’s stock valued at $160,655,000 after purchasing an additional 4,525 shares during the period. First National Advisers LLC lifted its stake in shares of Eaton by 203.9% in the 3rd quarter. First National Advisers LLC now owns 6,118 shares of the industrial products company’s stock valued at $1,305,000 after purchasing an additional 4,105 shares during the period. Finally, Rational Advisors LLC acquired a new position in shares of Eaton in the 3rd quarter valued at $160,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ETN shares. Berenberg Bank increased their price target on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Evercore ISI upped their price objective on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $286.00 to $371.00 in a research report on Friday, April 5th. The Goldman Sachs Group upped their price objective on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Argus upped their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Eaton Stock Up 2.5 %

Shares of NYSE ETN traded up $8.00 during mid-day trading on Wednesday, hitting $327.17. The company had a trading volume of 1,682,043 shares, compared to its average volume of 2,015,948. The company has a market capitalization of $130.80 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 2.70 and a beta of 1.04. The firm has a 50-day simple moving average of $324.06 and a two-hundred day simple moving average of $284.97. 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 one year low of $188.35 and a one year high of $345.19.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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 company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. Eaton’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 EPS. On average, equities analysts expect that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a $0.94 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.15%. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Insiders Place Their Bets

In other news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Eaton 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.