Eaton Co. plc (NYSE:ETN) Shares Purchased by Albert D Mason Inc.

Albert D Mason Inc. boosted its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 111.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,233 shares of the industrial products company's stock after purchasing an additional 2,764 shares during the quarter. Albert D Mason Inc.'s holdings in Eaton were worth $1,423,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of Eaton by 1.4% in the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after acquiring an additional 45 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock valued at $303,000 after acquiring an additional 136 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $38,000. Stonebridge Financial Group LLC acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $65,000. Finally, Gladstone Institutional Advisory LLC boosted its holdings in shares of Eaton by 2.3% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,995 shares of the industrial products company's stock valued at $3,317,000 after acquiring an additional 227 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Price Performance

NYSE:ETN traded down $7.08 during trading hours on Friday, hitting $323.26. The company's stock had a trading volume of 1,565,268 shares, compared to its average volume of 2,641,084. The business's 50-day moving average is $303.34 and its two-hundred day moving average is $315.40. The company has a market capitalization of $126.49 billion, a PE ratio of 34.03, a PEG ratio of 2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly 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 22.62% and a net margin of 15.25%. The business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter last year, the business posted $2.40 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio is currently 41.98%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Citigroup increased their price objective on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday, May 5th. BNP Paribas initiated coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Evercore ISI increased their price target on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $368.78.

Insider Activity

In related news, insider Craig Arnold sold 103,486 shares of the stock in a transaction on 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 sale, the insider now owns 490,208 shares of the company's stock, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction 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 sale, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 over the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

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.