Advisor Resource Council Takes Position in Eaton Corporation, PLC (NYSE:ETN)

Advisor Resource Council acquired a new position in Eaton Corporation, PLC (NYSE:ETN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,043 shares of the industrial products company's stock, valued at approximately $827,000.

Several other institutional investors also recently modified their holdings of the business. Capital A Wealth Management LLC bought a new stake in shares of Eaton in the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the 4th quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton in the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton in the 4th quarter valued at $33,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Eaton in the 4th quarter valued at $33,000. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. BNP Paribas assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Wells Fargo & Company restated an "overweight" rating and set a $355.00 target price on shares of Eaton in a research report on Monday, May 5th. Citigroup upped their target price on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Finally, Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton Stock Down 1.1%

NYSE ETN traded down $3.52 during trading hours on Friday, hitting $331.34. The company's stock had a trading volume of 4,406,960 shares, compared to its average volume of 2,656,564. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a market capitalization of $129.65 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 2.57 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The company's 50-day simple moving average is $310.79 and its two-hundred day simple moving average is $312.81.

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

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a dividend of $1.04 per share. 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 1.26%. Eaton's dividend payout ratio (DPR) is currently 41.98%.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction dated 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 sale, the insider now owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of Eaton 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 now directly owns 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by company insiders.

Eaton 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.