Eaton Corporation, PLC (NYSE:ETN) Shares Purchased by Balefire LLC

Balefire LLC increased its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 69.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,271 shares of the industrial products company's stock after purchasing an additional 2,562 shares during the period. Balefire LLC's holdings in Eaton were worth $1,705,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in Eaton during the fourth quarter worth $1,495,582,000. GAMMA Investing LLC boosted its stake in Eaton by 27,281.9% during the first quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock worth $976,772,000 after buying an additional 3,580,198 shares during the period. Capital International Investors purchased a new position in Eaton during the fourth quarter worth $523,541,000. Proficio Capital Partners LLC boosted its stake in Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after buying an additional 730,594 shares during the period. Finally, Leigh Baldwin & CO. LLC purchased a new position in Eaton during the fourth quarter worth $231,552,000. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction that occurred on 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 owns 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction that occurred on 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 approximately $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BNP Paribas assumed coverage on shares of Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. BNP Paribas Exane started coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. Evercore ISI upped their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Royal Bank Of Canada upped their price objective on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Five equities 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 has a consensus rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton Stock Up 1.6%

Shares of ETN traded up $5.60 during mid-day trading on Friday, hitting $353.74. 3,704,268 shares of the company traded hands, compared to its average volume of 2,664,876. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $138.42 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16. The business has a 50 day moving average of $318.04 and a 200 day moving average of $312.83.

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 (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the company posted $2.40 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued 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 1.18%. Eaton's dividend payout ratio (DPR) is presently 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.