Burney Co. Sells 3,820 Shares of Eaton Co. (ETN)

Burney Co. reduced its stake in shares of Eaton Co. (NYSE:ETN) by 26.0% in the first quarter, Holdings Channel reports. The institutional investor owned 10,879 shares of the industrial products company’s stock after selling 3,820 shares during the period. Burney Co.’s holdings in Eaton were worth $869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Carroll Financial Associates Inc. boosted its position in Eaton by 113.6% during the 4th quarter. Carroll Financial Associates Inc. now owns 2,805 shares of the industrial products company’s stock worth $221,000 after acquiring an additional 1,492 shares during the period. Oakbrook Investments LLC acquired a new position in Eaton during the 4th quarter worth $1,620,000. Cornerstone Investment Partners LLC boosted its position in Eaton by 100.0% during the 4th quarter. Cornerstone Investment Partners LLC now owns 23,850 shares of the industrial products company’s stock worth $1,884,000 after acquiring an additional 11,925 shares during the period. MHI Funds LLC acquired a new position in Eaton during the 4th quarter worth $3,282,000. Finally, Denali Advisors LLC boosted its position in Eaton by 109.6% during the 4th quarter. Denali Advisors LLC now owns 199,978 shares of the industrial products company’s stock worth $15,800,000 after acquiring an additional 104,569 shares during the period. Hedge funds and other institutional investors own 79.23% of the company’s stock.

In other news, Director Deborah L. Mccoy sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $82.23, for a total transaction of $328,920.00. Following the completion of the sale, the director now directly owns 35,936 shares of the company’s stock, valued at $2,955,017.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William J. Vanlandingham II sold 10,174 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $45.77, for a total value of $465,663.98. Following the sale, the insider now directly owns 13,963 shares of the company’s stock, valued at $639,086.51. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

A number of research analysts have issued reports on the company. ValuEngine upgraded Eaton from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Jefferies Group reiterated a “hold” rating and set a $90.00 price target on shares of Eaton in a research report on Friday, February 2nd. Stifel Nicolaus upgraded Eaton from a “hold” rating to a “buy” rating and boosted their price target for the stock from $77.00 to $99.00 in a research report on Sunday, February 4th. Zacks Investment Research upgraded Eaton from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Finally, UBS assumed coverage on Eaton in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $87.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $86.33.

Shares of Eaton opened at $77.67 on Friday, Marketbeat.com reports. The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $33.55 billion, a PE ratio of 16.70, a PEG ratio of 1.49 and a beta of 1.37. Eaton Co. has a fifty-two week low of $76.44 and a fifty-two week high of $77.14.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.03. The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.11 billion. Eaton had a return on equity of 12.77% and a net margin of 14.59%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 earnings per share. equities analysts anticipate that Eaton Co. will post 5.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 18th. Stockholders of record on Friday, May 4th will be issued a $0.66 dividend. The ex-dividend date is Thursday, May 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.40%. Eaton’s dividend payout ratio (DPR) is 56.77%.

Eaton Profile

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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