1,324 Shares in Eaton Corporation, PLC (NYSE:ETN) Acquired by TruNorth Capital Management LLC

TruNorth Capital Management LLC acquired a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,324 shares of the industrial products company's stock, valued at approximately $360,000.

Other institutional investors have also recently modified their holdings of the company. Capital A Wealth Management LLC acquired a new position in shares of Eaton during the 4th quarter worth approximately $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton during the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV raised its holdings in Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 51 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Eaton in the 4th quarter valued at $33,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Eaton in the 4th quarter valued at $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on ETN. BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Barclays boosted their price target on Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a report on Wednesday. Evercore ISI upped their price objective on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, BNP Paribas initiated coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $370.63.

Eaton Stock Up 0.8%

Shares of Eaton stock opened at $360.67 on Friday. The company has a fifty day moving average price of $332.74 and a 200 day moving average price of $313.48. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The stock has a market cap of $141.13 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping 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 firm had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the prior year, the company earned $2.40 EPS. The firm's revenue was up 7.3% on a year-over-year basis. Equities research analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 41.98%.

Insider Activity

In other Eaton news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider owned 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction that occurred 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 sale, the insider directly owned 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company's stock.

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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