Caliber Wealth Management LLC KS Takes Position in Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Caliber Wealth Management LLC KS has invested approximately $2.87 million in Eaton Corporation, acquiring 10,554 shares of their stock in the first quarter.
• Eaton Corporation reported earnings of $2.72 EPS for the quarter, surpassing analyst estimates and achieving a revenue increase of 7.3% year-over-year.
• The company declared a quarterly dividend of $1.04 per share, yielding 1.08%, set to be paid on August 22nd to shareholders of record.

Caliber Wealth Management LLC KS acquired a new stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,554 shares of the industrial products company's stock, valued at approximately $2,869,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC grew its position in Eaton by 0.7% in the 1st quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock valued at $1,378,000 after acquiring an additional 37 shares in the last quarter. Lantern Wealth Advisors LLC grew its position in Eaton by 1.0% in the 4th quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock valued at $1,340,000 after acquiring an additional 38 shares in the last quarter. AGH Wealth Advisors LLC grew its position in Eaton by 2.6% in the 1st quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock valued at $412,000 after acquiring an additional 38 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Eaton by 4.2% in the 1st quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock valued at $259,000 after acquiring an additional 38 shares in the last quarter. Finally, Tritonpoint Wealth LLC grew its position in Eaton by 3.9% in the 1st quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company's stock valued at $282,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Price Performance

ETN stock traded up $0.44 on Monday, reaching $392.61. 1,641,804 shares of the company's stock were exchanged, compared to its average volume of 3,064,198. The stock has a fifty day moving average of $344.57 and a 200-day moving average of $315.82. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $399.56. The firm has a market cap of $153.63 billion, a PE ratio of 39.62, a P/E/G ratio of 2.96 and a beta of 1.17. 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 (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. Eaton's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.40 earnings per share. As a group, equities analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton's dividend payout ratio (DPR) is 41.98%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction on Monday, May 12th. The shares were 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 directly owned 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock worth $49,622,894 in the last three months. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BNP Paribas Exane assumed coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. The Goldman Sachs Group lifted their price objective on Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada lifted their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Wells Fargo & Company lifted their price objective on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $396.00 price objective on shares of Eaton in a research note on Monday, July 14th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $377.89.

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.