1,813 Shares in Eaton Corporation, PLC (NYSE:ETN) Purchased by Sowell Financial Services LLC

Sowell Financial Services LLC acquired a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,813 shares of the industrial products company's stock, valued at approximately $493,000.

Several other large investors have also made changes to their positions in ETN. Bearing Point Capital LLC acquired a new position in Eaton in the 4th quarter valued at approximately $2,713,000. Brighton Jones LLC raised its holdings in Eaton by 4.9% in the 1st quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock valued at $953,000 after acquiring an additional 164 shares in the last quarter. Kennebec Savings Bank raised its holdings in Eaton by 5.4% in the 1st quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock valued at $738,000 after acquiring an additional 139 shares in the last quarter. American National Bank & Trust raised its holdings in Eaton by 5.4% in the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock valued at $855,000 after acquiring an additional 162 shares in the last quarter. Finally, Castle Rock Wealth Management LLC raised its holdings in Eaton by 7.0% in the 4th quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company's stock valued at $2,575,000 after acquiring an additional 543 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Up 1.0%

NYSE ETN opened at $333.92 on Friday. The firm has a market cap of $130.66 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.60 and a beta of 1.16. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $379.99. The stock's 50 day simple moving average is $309.71 and its 200 day simple moving average is $313.95. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84.

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

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.25%. Eaton's payout ratio is 41.98%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Citigroup upped their price target on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday, May 5th. BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $355.00 price target on shares of Eaton in a report on Monday, May 5th. BNP Paribas Exane assumed coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Finally, Jefferies Financial Group lowered their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $368.78.

Insider Buying and Selling at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the transaction, the insider now directly owns 489,444 shares in the company, valued at approximately $149,490,880.92. This trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% 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.

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