741 Shares in Eaton Corporation, PLC (NYSE:ETN) Bought by Alpine Bank Wealth Management

Alpine Bank Wealth Management purchased a new stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 741 shares of the industrial products company's stock, valued at approximately $201,000.

Several other institutional investors have also added to or reduced their stakes in the company. HBK Sorce Advisory LLC raised its position in Eaton by 2.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 3,436 shares of the industrial products company's stock valued at $934,000 after purchasing an additional 82 shares during the last quarter. Golden State Wealth Management LLC increased its stake in shares of Eaton by 352.2% during the first quarter. Golden State Wealth Management LLC now owns 5,033 shares of the industrial products company's stock valued at $1,369,000 after buying an additional 3,920 shares during the period. Spire Wealth Management raised its holdings in shares of Eaton by 6.8% during the first quarter. Spire Wealth Management now owns 11,342 shares of the industrial products company's stock valued at $3,083,000 after acquiring an additional 718 shares in the last quarter. Daymark Wealth Partners LLC lifted its stake in Eaton by 9.2% in the first quarter. Daymark Wealth Partners LLC now owns 21,541 shares of the industrial products company's stock worth $5,855,000 after acquiring an additional 1,810 shares during the period. Finally, Horizon Bancorp Inc. IN lifted its stake in Eaton by 70.1% in the first quarter. Horizon Bancorp Inc. IN now owns 165 shares of the industrial products company's stock worth $45,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In other news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Arnold sold 51,054 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the sale, the insider now owns 489,444 shares of the company's stock, valued at $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 over the last 90 days. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ETN. Wells Fargo & Company restated an "overweight" rating and issued a $355.00 price objective on shares of Eaton in a report on Monday, May 5th. Morgan Stanley decreased their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Evercore ISI lifted their price objective on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. increased their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, BNP Paribas Exane began coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton Price Performance

Shares of NYSE:ETN opened at $342.72 on Thursday. 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 firm has a market cap of $134.11 billion, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. The business has a 50-day simple moving average of $314.71 and a two-hundred day simple moving average of $312.97. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating the consensus estimate 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 previous year, the company earned $2.40 earnings per share. The firm's quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid 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 dividend yield of 1.21%. Eaton's dividend payout ratio (DPR) is currently 41.98%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.