Calton & Associates Inc. Acquires 5,572 Shares of Eaton Corporation, PLC (NYSE:ETN)

Calton & Associates Inc. boosted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 722.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 6,343 shares of the industrial products company's stock after buying an additional 5,572 shares during the period. Calton & Associates Inc.'s holdings in Eaton were worth $1,724,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in shares of Eaton during the fourth quarter valued at $26,000. Creative Financial Designs Inc. ADV boosted its holdings in shares of Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 51 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton during the fourth quarter valued at $33,000. Vermillion Wealth Management Inc. acquired a new stake in Eaton in the fourth quarter worth about $33,000. Finally, Abound Wealth Management lifted its holdings in Eaton by 73.8% in the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on ETN shares. Evercore ISI boosted their price objective on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. JPMorgan Chase & Co. upped their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. BNP Paribas began coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Finally, KeyCorp upped their price target on Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and an average target price of $377.89.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 103,486 shares of Eaton 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the firm's 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 sale, the insider owned 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 over the last ninety days. Corporate insiders own 0.30% of the company's stock.

Eaton Stock Down 0.5%

ETN stock traded down $1.83 during trading on Friday, reaching $378.89. 2,941,019 shares of the stock were exchanged, compared to its average volume of 2,668,275. The firm's 50 day moving average is $339.29 and its 200 day moving average is $314.69. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $384.51. 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 firm has a market cap of $148.26 billion, a P/E ratio of 38.23, a price-to-earnings-growth ratio of 2.86 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.40 EPS. As a group, research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is currently 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.