Callahan Advisors LLC Increases Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

Callahan Advisors LLC increased its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 5.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,557 shares of the industrial products company's stock after purchasing an additional 1,098 shares during the quarter. Callahan Advisors LLC's holdings in Eaton were worth $5,588,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital A Wealth Management LLC bought a new stake in shares of Eaton in the fourth quarter valued at about $26,000. Flagship Wealth Advisors LLC acquired a new stake in Eaton during the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV grew its stake in Eaton by 102.0% during the first 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 in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Eaton during the fourth quarter worth about $33,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Eaton during the fourth quarter worth about $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of NYSE ETN traded up $3.03 during trading on Friday, hitting $360.67. The company had a trading volume of 1,697,991 shares, compared to its average volume of 2,669,931. The stock has a 50 day simple moving average of $331.52 and a 200 day simple moving average of $313.54. 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 capitalization of $141.13 billion, a P/E ratio of 36.39, a price-to-earnings-growth ratio of 2.70 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the company earned $2.40 earnings per share. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred 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 sale, the insider owned 490,208 shares of the company's stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider directly owned 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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.

Analysts Set New Price Targets

ETN has been the subject of a number of research reports. BNP Paribas Exane initiated coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. The Goldman Sachs Group increased their target price on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Tuesday. KeyCorp increased their target price on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. BNP Paribas assumed coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Finally, Royal Bank Of Canada raised their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and a consensus price target of $370.63.

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.