Eaton Corporation, PLC (NYSE:ETN) Shares Bought by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. increased its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 12.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 52,698 shares of the industrial products company's stock after purchasing an additional 5,872 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Eaton were worth $14,325,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on ETN shares. BNP Paribas Exane started coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. The Goldman Sachs Group upped their target price on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. BNP Paribas initiated coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Barclays increased their price objective 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. Finally, 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 research report on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and an average target price of $377.89.

Eaton Stock Performance

ETN traded up $4.86 during trading on Thursday, hitting $385.10. 1,658,805 shares of the stock were exchanged, compared to its average volume of 2,048,134. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $386.17. The stock has a fifty day moving average price of $342.17 and a two-hundred day moving average price of $315.63. The firm has a market capitalization of $150.69 billion, a P/E ratio of 38.86, a PEG ratio of 2.87 and a beta of 1.17.

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

Eaton Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the 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 transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by insiders.

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.