Apella Capital LLC Takes $387,000 Position in Eaton Co. plc (NYSE:ETN)

Apella Capital LLC acquired a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,364 shares of the industrial products company's stock, valued at approximately $387,000.

Several other institutional investors have also recently modified their holdings of the company. Norden Group LLC grew its position in Eaton by 3.4% during the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock worth $325,000 after acquiring an additional 32 shares during the last quarter. TFC Financial Management Inc. grew its position in Eaton by 4.7% during the 4th quarter. TFC Financial Management Inc. now owns 752 shares of the industrial products company's stock worth $250,000 after acquiring an additional 34 shares during the last quarter. Nwam LLC grew its position in Eaton by 0.6% during the 4th quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock worth $1,764,000 after acquiring an additional 34 shares during the last quarter. Founders Financial Alliance LLC grew its position in Eaton by 0.7% during the 4th quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock worth $1,797,000 after acquiring an additional 35 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC grew its position in Eaton by 1.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company's stock worth $1,190,000 after acquiring an additional 38 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research report on Sunday, May 18th. Jefferies Financial Group decreased their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. BNP Paribas Exane assumed coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Finally, Royal Bank of Canada boosted their price objective 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. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $367.83.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 51,054 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the transaction, the insider now owns 489,444 shares of the company's stock, valued at $149,490,880.92. This trade represents a 9.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 in the last 90 days. Corporate insiders own 0.30% of the company's stock.

Eaton Stock Performance

Shares of ETN stock opened at $326.50 on Friday. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The stock has a market cap of $127.76 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company's fifty day moving average price is $297.01 and its 200-day moving average price is $316.86.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating 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 firm had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the previous year, the business posted $2.40 EPS. The company's quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.27%. 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.

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