11,884 Shares in Eaton Corporation, PLC (NYSE:ETN) Purchased by Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD

Key Points

• Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired 11,884 shares of Eaton Corporation, PLC (NYSE:ETN), valued at approximately $3,229,000.
• Eaton Corporation reported an earnings per share (EPS) of $2.72 for the latest quarter, exceeding analysts' consensus estimate of $2.70, while also generating a revenue of $6.38 billion.
• The company declared a quarterly dividend of $1.04 per share, reflecting an annualized yield of 1.06%, with a payout ratio of 41.98%.

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 11,884 shares of the industrial products company's stock, valued at approximately $3,229,000.

A number of other large investors also recently made changes to their positions in ETN. Checchi Capital Advisers LLC boosted its position in shares of Eaton by 0.7% during the first quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock worth $1,378,000 after purchasing an additional 37 shares in the last quarter. Lantern Wealth Advisors LLC lifted its holdings in Eaton by 1.0% during the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock worth $1,340,000 after acquiring an additional 38 shares in the last quarter. AGH Wealth Advisors LLC grew its stake in Eaton by 2.6% in the first quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock valued at $412,000 after acquiring an additional 38 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Eaton by 4.2% in the first quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock worth $259,000 after acquiring an additional 38 shares in the last quarter. Finally, Tritonpoint Wealth LLC raised its position in shares of Eaton by 3.9% during the first quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company's stock worth $282,000 after purchasing an additional 39 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Performance

NYSE ETN opened at $392.29 on Friday. The firm has a 50-day moving average of $344.57 and a 200-day moving average of $316.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The stock has a market cap of $153.50 billion, a PE ratio of 39.59, a P/E/G ratio of 2.90 and a beta of 1.17. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $393.07.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the previous year, the business posted $2.40 earnings per share. Eaton's quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton's dividend payout ratio is currently 41.98%.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the sale, the insider directly owned 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the business'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 transaction, the insider directly owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ETN. Evercore ISI raised their target price on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Sanford C. Bernstein restated an "outperform" rating and set a $396.00 price objective on shares of Eaton in a report on Monday, July 14th. Royal Bank Of Canada boosted their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. BNP Paribas Exane started coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and a consensus price target of $377.89.

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.

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