Avantax Advisory Services Inc. Buys 2,059 Shares of Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Avantax Advisory Services Inc. increased its stake in Eaton Corporation by 4.6%, acquiring an additional 2,059 shares and bringing its total holdings to 46,859 shares, valued at approximately $12.7 million.
• Insider Craig Arnold sold 103,486 shares of Eaton stock, while other insiders collectively sold 156,660 shares valued at nearly $49.6 million in the last quarter, indicating significant insider activity.
• Eaton recently announced a quarterly dividend of $1.04 per share, representing a yield of 1.06%, with a dividend payout ratio of approximately 41.98%.

Avantax Advisory Services Inc. raised its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,859 shares of the industrial products company's stock after purchasing an additional 2,059 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Eaton were worth $12,738,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Eaton by 27,281.9% during the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after acquiring an additional 3,580,198 shares in the last quarter. Capital International Investors bought a new stake in Eaton in the fourth quarter worth $523,541,000. Leigh Baldwin & CO. LLC bought a new stake in Eaton in the fourth quarter worth $231,552,000. Janus Henderson Group PLC boosted its holdings in Eaton by 24.3% in the fourth quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company's stock worth $998,144,000 after purchasing an additional 588,370 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Eaton in the fourth quarter worth $145,077,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other news, insider Craig Arnold sold 103,486 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider directly owned 490,208 shares of the company's stock, valued at $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were 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. This trade represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,660 shares of company stock valued at $49,622,894. Company insiders own 0.30% of the company's stock.

Eaton Stock Performance

Shares of ETN traded up $0.51 during trading hours on Monday, reaching $392.68. 1,535,863 shares of the company traded hands, compared to its average volume of 3,063,583. The stock has a market cap of $153.66 billion, a P/E ratio of 39.62, a price-to-earnings-growth ratio of 2.96 and a beta of 1.17. The stock's fifty day moving average is $344.57 and its 200 day moving average is $315.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $399.56.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $2.40 earnings per share. Equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton's payout ratio is 41.98%.

Analyst Ratings Changes

ETN has been the subject of a number of recent research reports. BNP Paribas Exane initiated coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. Citigroup upped their price objective on shares of Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Morgan Stanley decreased their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, KeyCorp upped their price objective on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Eaton currently has an average rating of "Moderate Buy" and a consensus target price of $377.89.

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.