4,979 Shares in Eaton Co. plc (NYSE:ETN) Bought by AAFMAA Wealth Management & Trust LLC

AAFMAA Wealth Management & Trust LLC purchased a new position in Eaton Co. plc (NYSE:ETN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,979 shares of the industrial products company's stock, valued at approximately $1,353,000.

Other institutional investors also recently modified their holdings of the company. Bearing Point Capital LLC bought a new position in shares of Eaton in the 4th quarter worth about $2,713,000. Generate Investment Management Ltd bought a new stake in Eaton during the 4th quarter valued at about $12,678,000. Strategic Financial Concepts LLC bought a new stake in Eaton during the 4th quarter valued at about $38,000. American National Bank & Trust increased its stake in Eaton by 5.4% during the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock valued at $855,000 after purchasing an additional 162 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in Eaton during the 4th quarter valued at about $161,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% 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 over the last quarter. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ETN. Evercore ISI upped 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. Wells Fargo & Company reaffirmed an "overweight" rating and set a $355.00 price target on shares of Eaton in a report on Monday, May 5th. Morgan Stanley reduced their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. BNP Paribas Exane assumed coverage on shares of Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, Eaton currently has an average rating of "Moderate Buy" and a consensus price target of $367.83.

Eaton Stock Performance

ETN traded up $5.23 during trading on Friday, hitting $331.71. The company's stock had a trading volume of 2,206,422 shares, compared to its average volume of 2,648,581. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The firm has a market cap of $129.80 billion, a PE ratio of 34.92, a P/E/G ratio of 2.64 and a beta of 1.16. The business's 50 day simple moving average is $298.11 and its 200-day simple moving average is $316.64.

Eaton (NYSE:ETN - Get Free Report) last released its 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. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter last year, the business earned $2.40 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

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