Doliver Advisors LP Sells 305 Shares of Eaton Co. plc (NYSE:ETN)

Doliver Advisors LP lowered its position in Eaton Co. plc (NYSE:ETN) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,504 shares of the industrial products company’s stock after selling 305 shares during the quarter. Eaton accounts for about 1.0% of Doliver Advisors LP’s holdings, making the stock its 14th largest position. Doliver Advisors LP’s holdings in Eaton were worth $3,486,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Breakwater Investment Management lifted its stake in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the period. Groupama Asset Managment lifted its position in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares during the period. Morse Asset Management Inc acquired a new stake in Eaton in the 3rd quarter valued at $33,000. West Financial Advisors LLC bought a new stake in Eaton in the third quarter valued at $35,000. Finally, DT Investment Partners LLC acquired a new position in Eaton during the third quarter worth $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 1.9 %

Shares of NYSE:ETN traded up $6.68 during midday trading on Monday, hitting $349.26. The company had a trading volume of 1,694,802 shares, compared to its average volume of 1,925,700. The firm has a fifty day simple moving average of $354.67 and a 200 day simple moving average of $328.11. The stock has a market cap of $138.03 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 2.74 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12 month low of $234.20 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the company posted $2.47 EPS. On average, analysts predict that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.08%. Eaton’s dividend payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ETN. UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Raymond James dropped their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and boosted their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Wells Fargo & Company raised their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Citigroup increased their target price on Eaton from $394.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.83.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,981 shares of company stock valued at $27,660,117. Company insiders own 0.53% of the company’s stock.

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.