Eaton Corporation, PLC (NYSE:ETN) Shares Bought by Brookstone Capital Management

Brookstone Capital Management boosted its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 404.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,225 shares of the industrial products company's stock after buying an additional 11,405 shares during the period. Brookstone Capital Management's holdings in Eaton were worth $3,867,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Capital A Wealth Management LLC purchased a new stake in shares of Eaton during the 4th quarter worth $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton during the 4th quarter worth $27,000. Creative Financial Designs Inc. ADV raised its stake in shares of Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after buying an additional 51 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton during the 4th quarter worth $33,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Eaton during the 4th quarter worth $33,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on ETN. BNP Paribas began coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Wells Fargo & Company boosted their target price on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Finally, Evercore ISI boosted their target price on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus target price of $369.74.

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 completion of the transaction, the insider owned 490,208 shares in the company, valued at $158,214,632. This represents a 17.43% decrease in their position. 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 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 transaction, the insider owned 3,382 shares of the company's stock, 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 90 days, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by company insiders.

Eaton Trading Down 0.4%

Shares of NYSE:ETN traded down $1.32 during trading on Tuesday, reaching $357.17. 1,739,272 shares of the stock were exchanged, compared to its average volume of 2,667,615. 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 12-month low of $231.85 and a 12-month high of $379.99. The firm has a market cap of $139.76 billion, a price-to-earnings ratio of 36.04, a price-to-earnings-growth ratio of 2.70 and a beta of 1.17. The firm's 50-day moving average price is $327.78 and its 200 day moving average price is $312.77.

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 previous year, the business earned $2.40 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio 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.