Beech Hill Advisors Inc. Sells 1,927 Shares of Eaton Co. plc (NYSE:ETN)

Beech Hill Advisors Inc. lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,946 shares of the industrial products company’s stock after selling 1,927 shares during the quarter. Eaton accounts for about 2.9% of Beech Hill Advisors Inc.’s holdings, making the stock its 6th largest position. Beech Hill Advisors Inc.’s holdings in Eaton were worth $6,008,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PCA Investment Advisory Services Inc. purchased a new position in Eaton during the second quarter valued at approximately $27,000. Coppell Advisory Solutions Corp. bought a new stake in Eaton in the fourth quarter worth approximately $30,000. Global Trust Asset Management LLC bought a new stake in Eaton in the third quarter worth approximately $32,000. Valued Wealth Advisors LLC bought a new stake in Eaton in the fourth quarter worth approximately $35,000. Finally, Cornerstone Planning Group LLC bought a new stake in Eaton in the second quarter worth approximately $36,000. 81.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eaton

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

Eaton Price Performance

Shares of ETN traded up $0.85 during trading hours on Monday, hitting $298.75. The stock had a trading volume of 1,557,062 shares, compared to its average volume of 1,756,643. The company’s fifty day moving average is $270.42 and its two-hundred day moving average is $239.34. Eaton Co. plc has a 52 week low of $155.38 and a 52 week high of $303.40. The stock has a market capitalization of $119.35 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 2.49 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the firm posted $2.06 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, analysts anticipate that Eaton Co. plc will post 10.25 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 11th will be issued a $0.94 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, March 8th. Eaton’s payout ratio is currently 46.88%.

Analyst Upgrades and Downgrades

Several analysts have commented on ETN shares. Royal Bank of Canada boosted their target price on shares of Eaton from $246.00 to $286.00 and gave the stock a “sector perform” rating in a research report on Thursday. UBS Group boosted their price objective on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. The Goldman Sachs Group upped their target price on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday. Citigroup upped their target price on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Wells Fargo & Company upped their target price on shares of Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $268.20.

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.