Bank Julius Baer & Co. Ltd Zurich Buys 5,114 Shares of Eaton Corporation, PLC (NYSE:ETN)

Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,787 shares of the industrial products company's stock after buying an additional 5,114 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned about 0.14% of Eaton worth $163,333,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ETN. Capital A Wealth Management LLC acquired a new stake in Eaton during the fourth quarter worth approximately $26,000. Creative Financial Designs Inc. ADV lifted its stake in shares of Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 51 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the 4th quarter valued at $33,000. Vermillion Wealth Management Inc. bought a new position in Eaton during the 4th quarter worth $33,000. Finally, Abound Wealth Management raised its position in Eaton by 73.8% during the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ETN. Barclays raised their target price on Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. KeyCorp raised their target price on Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group raised their target price on Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Morgan Stanley lowered 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, Royal Bank Of Canada lifted their price objective on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and an average target price of $377.89.

Eaton Stock Performance

Shares of NYSE ETN traded up $4.86 during midday trading on Thursday, reaching $385.10. The company's stock had a trading volume of 1,656,549 shares, compared to its average volume of 3,081,975. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $386.17. The firm has a 50 day moving average price of $342.17 and a 200-day moving average price of $315.63. The stock has a market capitalization of $150.69 billion, a P/E ratio of 38.86, a PEG ratio of 2.81 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84.

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

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.08%. Eaton's payout ratio is 41.98%.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of the stock in a transaction on 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 owned 490,208 shares in the company, valued at $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction 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 owned 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by company insiders.

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.