940 Shares in Eaton Corporation, PLC (NYSE:ETN) Bought by Mason & Associates Inc

Mason & Associates Inc bought 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 bought 940 shares of the industrial products company's stock, valued at approximately $256,000.

Several other hedge funds have also recently modified their holdings of the stock. Capital A Wealth Management LLC bought a new position in Eaton during the fourth quarter valued at $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton during the fourth quarter valued at $27,000. Noble Wealth Management PBC purchased a new stake in shares of Eaton during the fourth quarter valued at $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Eaton during the fourth quarter valued at $33,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Eaton in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ETN shares. JPMorgan Chase & Co. upped their price objective on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Royal Bank Of Canada increased their price target on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. KeyCorp increased their price target on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. BNP Paribas Exane initiated coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Finally, Citigroup increased their price target on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $368.78.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider now directly owns 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% 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 in the last three months. 0.30% of the stock is currently owned by insiders.

Eaton Price Performance

ETN stock traded down $7.56 during midday trading on Tuesday, reaching $330.45. The stock had a trading volume of 1,869,956 shares, compared to its average volume of 2,643,710. The company's fifty day simple moving average is $306.54 and its 200 day simple moving average is $313.96. 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 cap of $129.30 billion, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the company earned $2.40 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 41.98%.

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.