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Cambridge Investment Research Advisors Inc. Sells 11,353 Shares of Eaton Corporation, PLC (NYSE:ETN)

Eaton logo with Industrials background

Cambridge Investment Research Advisors Inc. decreased its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 15.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,528 shares of the industrial products company's stock after selling 11,353 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Eaton were worth $16,997,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $1,495,582,000. GAMMA Investing LLC raised its stake in shares of Eaton by 27,281.9% during the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock worth $976,772,000 after purchasing an additional 3,580,198 shares during the period. Capital International Investors bought a new stake in shares of Eaton during the 4th quarter worth $523,541,000. Proficio Capital Partners LLC boosted its holdings in shares of Eaton by 42,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after buying an additional 730,594 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new position in Eaton during the fourth quarter valued at about $231,552,000. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

NYSE:ETN traded up $5.60 during mid-day trading on Friday, hitting $353.74. 3,692,244 shares of the stock traded hands, compared to its average volume of 2,664,371. The business's 50-day moving average price is $316.32 and its 200 day moving average price is $312.86. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The company has a market cap of $138.42 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.65 and a beta of 1.16. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $6.26 billion. During the same period in the previous year, the business earned $2.40 EPS. The business's revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 41.98%.

Insider Buying and Selling

In other news, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% 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 Craig Arnold sold 51,054 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares in the company, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Morgan Stanley dropped their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Jefferies Financial Group decreased their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Evercore ISI boosted their target price on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Finally, BNP Paribas assumed coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus price target of $368.78.

Check Out Our Latest Stock Analysis on Eaton

Eaton Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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