Altrius Capital Management Inc Buys 7,535 Shares of Eaton Corporation, PLC (NYSE:ETN)

Altrius Capital Management Inc increased its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 34.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,410 shares of the industrial products company's stock after buying an additional 7,535 shares during the period. Eaton accounts for 1.9% of Altrius Capital Management Inc's investment portfolio, making the stock its 17th biggest position. Altrius Capital Management Inc's holdings in Eaton were worth $7,995,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norden Group LLC grew its holdings in shares of Eaton by 3.4% during the fourth quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock valued at $325,000 after buying an additional 32 shares during the last quarter. Nwam LLC grew its holdings in shares of Eaton by 0.6% during the fourth quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock valued at $1,764,000 after buying an additional 34 shares during the last quarter. Founders Financial Alliance LLC grew its holdings in shares of Eaton by 0.7% during the fourth quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock valued at $1,797,000 after buying an additional 35 shares during the last quarter. Sound View Wealth Advisors Group LLC grew its holdings in shares of Eaton by 1.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company's stock valued at $1,190,000 after buying an additional 38 shares during the last quarter. Finally, Lantern Wealth Advisors LLC grew its holdings in shares of Eaton by 1.0% during the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock valued at $1,340,000 after buying an additional 38 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Morgan Stanley cut their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Citigroup raised their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Evercore ISI raised their target price on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. BNP Paribas Exane began coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $368.78.

Insider Buying and Selling

In related news, insider Craig Arnold sold 103,486 shares of the business'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 in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company's stock.

Eaton Price Performance

Shares of ETN stock traded up $2.06 on Monday, hitting $333.29. 1,397,759 shares of the stock traded hands, compared to its average volume of 2,651,526. The firm has a market cap of $130.42 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 2.57 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. The firm has a 50 day simple moving average of $310.79 and a two-hundred day simple moving average of $312.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84.

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

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given 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 1.25%. Eaton's dividend payout ratio is currently 41.98%.

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.