Apollon Wealth Management LLC Acquires 13,819 Shares of Eaton Corporation, PLC (NYSE:ETN)

Apollon Wealth Management LLC grew its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 80.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,062 shares of the industrial products company's stock after buying an additional 13,819 shares during the period. Apollon Wealth Management LLC's holdings in Eaton were worth $8,444,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC increased its position in Eaton by 0.7% in the 1st quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock valued at $1,378,000 after acquiring an additional 37 shares during the period. Lantern Wealth Advisors LLC grew its holdings in shares of Eaton by 1.0% in the 4th quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock worth $1,340,000 after acquiring an additional 38 shares during the last quarter. AGH Wealth Advisors LLC grew its holdings in shares of Eaton by 2.6% in the 1st quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock worth $412,000 after acquiring an additional 38 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Eaton by 4.2% in the 1st quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock worth $259,000 after acquiring an additional 38 shares during the last quarter. Finally, Tritonpoint Wealth LLC grew its holdings in shares of Eaton by 3.9% during the first quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company's stock valued at $282,000 after buying an additional 39 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $396.00 price target on shares of Eaton in a research report on Monday. KeyCorp boosted their price objective on Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research report on Tuesday. Morgan Stanley cut their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. upped their price target on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Six 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, Eaton presently has an average rating of "Moderate Buy" and a consensus price target of $377.89.

Eaton Price Performance

NYSE ETN traded up $17.60 during trading hours on Thursday, reaching $380.49. 3,686,854 shares of the company's stock were exchanged, compared to its average volume of 2,672,494. The stock has a market cap of $148.88 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 2.74 and a beta of 1.17. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average of $337.91 and a 200-day moving average of $314.48. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $380.81.

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 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. On average, equities research analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is presently 41.98%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider owned 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider owned 490,208 shares of the company's stock, valued at $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 in the last ninety days. 0.30% of the stock is currently owned by company insiders.

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.