Calamos Wealth Management LLC Acquires Shares of 886 Eaton Corporation, PLC (NYSE:ETN)

Calamos Wealth Management LLC acquired a new stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 886 shares of the industrial products company's stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Calamos Advisors LLC increased its stake in shares of Eaton by 1.1% during the first quarter. Calamos Advisors LLC now owns 76,079 shares of the industrial products company's stock valued at $20,681,000 after buying an additional 847 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of Eaton by 0.7% during the first quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock valued at $1,378,000 after buying an additional 37 shares during the period. Castle Wealth Management LLC increased its stake in shares of Eaton by 9.3% during the first quarter. Castle Wealth Management LLC now owns 3,196 shares of the industrial products company's stock valued at $869,000 after buying an additional 271 shares during the period. North Capital Inc. purchased a new position in shares of Eaton during the first quarter valued at approximately $291,000. Finally, Mutual Advisors LLC increased its stake in shares of Eaton by 39.3% during the first quarter. Mutual Advisors LLC now owns 9,233 shares of the industrial products company's stock valued at $2,667,000 after buying an additional 2,604 shares during the period. Institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction on 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company's stock.

Eaton Trading Up 1.1%

Eaton stock opened at $361.98 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The business's fifty day simple moving average is $326.36 and its two-hundred day simple moving average is $312.94. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $379.99. The company has a market capitalization of $141.64 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 2.73 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping 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 business 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 company posted $2.40 earnings per share. The company'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 fiscal year.

Eaton Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 1.15%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio (DPR) is 41.98%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ETN shares. BNP Paribas started coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Morgan Stanley reduced their target price on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. boosted their target price on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. KeyCorp upped their price target on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Royal Bank Of Canada upped 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. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and an average target price of $369.06.

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.

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