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

Callahan Advisors LLC grew its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,557 shares of the industrial products company's stock after acquiring 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 SEC filing.

A number of other institutional investors have also recently made changes to their positions in ETN. Brighton Jones LLC boosted its holdings in shares of Eaton by 1.4% during the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after acquiring an additional 45 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Eaton by 17.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock valued at $303,000 after acquiring an additional 136 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in shares of Eaton during the 4th quarter valued at about $42,839,000. Proficio Capital Partners LLC boosted its holdings in shares of Eaton by 27.6% during the 4th quarter. Proficio Capital Partners LLC now owns 2,207 shares of the industrial products company's stock valued at $732,000 after acquiring an additional 478 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Eaton by 4.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 49,693 shares of the industrial products company's stock worth $16,491,000 after buying an additional 1,930 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 103,486 shares of the business'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 transaction, the insider owned 490,208 shares of the company's stock, valued at approximately $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction on 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 $1,004,014.34. This trade represents a 38.53% 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. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays raised their price objective on shares of Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a report on Wednesday. Citigroup raised their price objective on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" 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 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $370.63.

Eaton Price Performance

NYSE ETN opened at $357.78 on Friday. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $379.99. The stock has a market cap of $140.00 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.71 and a beta of 1.17. The company's 50 day moving average is $331.52 and its two-hundred day moving average is $313.54. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

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 net margin of 15.55% and a return on equity of 23.41%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the firm earned $2.40 earnings per share. The company's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 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.

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