Banque Cantonale Vaudoise Takes Position in Eaton Corporation, PLC (NYSE:ETN)

Banque Cantonale Vaudoise purchased a new stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,305 shares of the industrial products company's stock, valued at approximately $3,617,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. FSA Advisors Inc. acquired a new position in Eaton in the first quarter worth $234,000. GSA Capital Partners LLP boosted its holdings in Eaton by 167.7% in the first quarter. GSA Capital Partners LLP now owns 5,622 shares of the industrial products company's stock valued at $1,528,000 after acquiring an additional 3,522 shares during the last quarter. Canopy Partners LLC raised its holdings in Eaton by 18.4% during the 1st quarter. Canopy Partners LLC now owns 2,847 shares of the industrial products company's stock worth $774,000 after purchasing an additional 442 shares during the last quarter. TCTC Holdings LLC lifted its position in Eaton by 3.9% during the 1st quarter. TCTC Holdings LLC now owns 1,070 shares of the industrial products company's stock valued at $291,000 after purchasing an additional 40 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in Eaton by 106.9% during the 1st quarter. Meeder Asset Management Inc. now owns 418 shares of the industrial products company's stock valued at $114,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the company's 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 sale, the insider owned 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 103,486 shares of the company'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 sale, the insider owned 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 in the last quarter. Corporate insiders own 0.30% of the company's stock.

Eaton Price Performance

Shares of Eaton stock traded down $3.20 during trading on Friday, reaching $381.52. 2,416,764 shares of the company's stock were exchanged, compared to its average volume of 2,049,141. 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. The company has a market cap of $149.29 billion, a P/E ratio of 38.50, a PEG ratio of 2.90 and a beta of 1.18. The firm's 50-day moving average price is $350.92 and its 200 day moving average price is $317.79.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) 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 business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the prior year, the firm earned $2.40 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 7th. Eaton's payout ratio is 41.98%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ETN. Barclays upped their target price on shares of Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada increased their price objective on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. KeyCorp increased their price objective on Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley decreased their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $396.00 price target on shares of Eaton in a research note on Monday, July 14th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $377.89.

Eaton Company 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.