3,612 Shares in Eaton Corporation, PLC (NYSE:ETN) Acquired by Family Legacy Inc.

Family Legacy Inc. purchased a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,612 shares of the industrial products company's stock, valued at approximately $982,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Eaton by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after acquiring an additional 99,291 shares during the last quarter. FMR LLC lifted its stake in shares of Eaton by 1.2% during the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock worth $5,051,807,000 after acquiring an additional 182,455 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Eaton by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock worth $2,714,677,000 after acquiring an additional 129,071 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Eaton by 4.3% during the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after acquiring an additional 192,482 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after acquiring an additional 368,241 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated 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 now owns 490,208 shares of the company's stock, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock worth $49,622,894 in the last ninety days. 0.30% of the stock is owned by insiders.

Eaton Trading Up 0.6%

Shares of NYSE:ETN opened at $333.29 on Tuesday. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99. The business's fifty day simple moving average is $311.91 and its 200-day simple moving average is $312.55. 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 has a market capitalization of $130.42 billion, a PE ratio of 33.63, a P/E/G ratio of 2.57 and a beta of 1.16.

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 for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the business earned $2.40 EPS. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.25%. Eaton's dividend payout ratio (DPR) is 41.98%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ETN. Barclays lifted their target price on Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. BNP Paribas began coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Royal Bank Of Canada lifted their target price on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Evercore ISI lifted their target price on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Finally, BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus price target of $368.78.

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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