Eaton Corporation, PLC (NYSE:ETN) Shares Bought by Bailard Inc.

Bailard Inc. lifted its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,919 shares of the industrial products company's stock after acquiring an additional 1,953 shares during the quarter. Bailard Inc.'s holdings in Eaton were worth $16,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Checchi Capital Advisers LLC increased its position in shares of Eaton by 0.7% in the first 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 raised its position 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. AGH Wealth Advisors LLC boosted its position in shares of Eaton by 2.6% during the 1st quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock valued at $412,000 after acquiring an additional 38 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake 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 valued at $259,000 after purchasing an additional 38 shares during the last quarter. Finally, Tritonpoint Wealth LLC raised its position in Eaton by 3.9% in the 1st quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company's stock worth $282,000 after purchasing an additional 39 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ETN shares. Morgan Stanley dropped their price objective 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. KeyCorp lifted their price target on Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Citigroup raised their price objective on Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group upped their price objective on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $377.89.

Insider Activity

In other Eaton news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was 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 trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction 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 transaction, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. 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 over the last quarter. 0.30% of the stock is owned by corporate insiders.

Eaton Stock Performance

Shares of NYSE ETN traded down $1.83 during midday trading on Friday, reaching $378.89. The company's stock had a trading volume of 2,941,019 shares, compared to its average volume of 2,668,275. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The stock has a market capitalization of $148.26 billion, a P/E ratio of 38.23, a PEG ratio of 2.86 and a beta of 1.17. The firm has a 50 day moving average price of $339.29 and a 200-day moving average price of $314.69. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $384.51.

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

Eaton Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.10%. 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.