Alpha Cubed Investments LLC Buys 2,856 Shares of Eaton Corporation, PLC (NYSE:ETN)

Alpha Cubed Investments LLC increased its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 3.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 85,188 shares of the industrial products company's stock after purchasing an additional 2,856 shares during the period. Alpha Cubed Investments LLC's holdings in Eaton were worth $23,157,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ETN. Capital A Wealth Management LLC bought a new position in Eaton in the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC bought a new position in Eaton in the 4th quarter worth about $27,000. Creative Financial Designs Inc. ADV increased its stake in Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after acquiring an additional 51 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton during the 4th quarter valued at about $33,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Eaton during the 4th quarter valued at about $33,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Down 0.4%

Shares of ETN stock traded down $1.32 during trading hours on Tuesday, reaching $357.17. The company's stock had a trading volume of 1,739,272 shares, compared to its average volume of 2,667,615. The stock has a market capitalization of $139.76 billion, a P/E ratio of 36.04, a P/E/G ratio of 2.70 and a beta of 1.17. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $379.99. The firm's fifty day simple moving average is $327.78 and its 200 day simple moving average is $312.77. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $2.40 EPS. Equities research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is currently 41.98%.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider directly owned 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $33,400,106.50. Following the sale, the insider owned 490,208 shares in the company, valued at $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley reduced their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. KeyCorp increased their price objective on 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 assumed coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. The Goldman Sachs Group increased their price objective on Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Jefferies Financial Group reduced their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $369.74.

About Eaton

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.