2,962 Shares in Eaton Corporation, PLC (NYSE:ETN) Purchased by Brookwood Investment Group LLC

Key Points

• Brookwood Investment Group LLC acquired 2,962 shares of Eaton Corporation, PLC valued at approximately $805,000, reflecting a significant investment in the industrial products company.
• Eaton's stock price jumped 1.9% to $392.29, with an average target price of $377.89 from analysts, indicating positive market sentiment.
$1.04 per share, which translates to a 1.06% yield for investors, reaffirming its commitment to returning value to shareholders.

Brookwood Investment Group LLC bought a new position in Eaton Corporation, PLC (NYSE:ETN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,962 shares of the industrial products company's stock, valued at approximately $805,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Eaton by 1.2% in the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock worth $5,051,807,000 after purchasing an additional 182,455 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Eaton by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock worth $2,714,677,000 after purchasing an additional 129,071 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Eaton by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after purchasing an additional 192,482 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Eaton by 8.8% in the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after purchasing an additional 368,241 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Eaton in the fourth quarter worth approximately $1,495,582,000. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated 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 directly owned 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated 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 sale, the insider owned 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock valued at $49,622,894 over the last 90 days. Corporate insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of research analyst reports. BNP Paribas Exane initiated coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. BNP Paribas initiated coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $396.00 price target on shares of Eaton in a research note on Monday, July 14th. Royal Bank Of Canada raised their price target on 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. raised their price target on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $377.89.

Eaton Stock Up 0.3%

Shares of NYSE:ETN traded up $1.26 on Monday, hitting $393.43. 1,042,000 shares of the company traded hands, compared to its average volume of 3,059,985. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $399.56. 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 stock has a 50 day simple moving average of $344.57 and a 200-day simple moving average of $315.82. The company has a market cap of $153.95 billion, a PE ratio of 39.70, a PEG ratio of 2.96 and a beta of 1.17.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $4.16 annualized dividend and a dividend yield of 1.06%. Eaton's payout ratio is presently 41.98%.

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.