Eaton Corporation, PLC (NYSE:ETN) Shares Purchased by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC increased its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 99.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,671 shares of the industrial products company's stock after acquiring an additional 1,331 shares during the period. Bryn Mawr Capital Management LLC's holdings in Eaton were worth $726,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ETN. Brighton Jones LLC grew its holdings in shares of Eaton by 1.4% during the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after buying an additional 45 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after purchasing an additional 136 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Eaton in the fourth quarter worth approximately $42,839,000. Proficio Capital Partners LLC boosted its holdings in Eaton by 27.6% in the fourth quarter. Proficio Capital Partners LLC now owns 2,207 shares of the industrial products company's stock worth $732,000 after purchasing an additional 478 shares during the last quarter. Finally, Cibc World Markets Corp boosted its holdings in Eaton by 15.3% in the fourth quarter. Cibc World Markets Corp now owns 62,464 shares of the industrial products company's stock worth $20,730,000 after purchasing an additional 8,297 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Eaton news, insider Craig Arnold sold 103,486 shares of the stock in a transaction on Monday, May 12th. The shares were 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 trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the firm'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 completion of the transaction, the insider directly owned 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ETN shares. Barclays lifted their price target on shares of Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Wells Fargo & Company lifted their price target on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. KeyCorp lifted their price target on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research note on Tuesday. Sanford C. Bernstein reiterated an "outperform" rating and set a $396.00 price target on shares of Eaton in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $377.89.

Eaton Price Performance

NYSE ETN traded up $1.79 on Friday, reaching $382.51. The company had a trading volume of 1,191,430 shares, compared to its average volume of 2,666,987. 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 market capitalization of $149.68 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 2.74 and a beta of 1.17. The firm's 50 day moving average price is $337.91 and its 200 day moving average price is $314.48. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $387.50.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the firm posted $2.40 EPS. Eaton's revenue for the quarter 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 business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.09%. Eaton's dividend payout ratio (DPR) is 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.