Capital Investment Advisory Services LLC Boosts Stock Position in Eaton Corporation, PLC (NYSE:ETN)

Capital Investment Advisory Services LLC increased its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 17.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,459 shares of the industrial products company's stock after purchasing an additional 811 shares during the period. Capital Investment Advisory Services LLC's holdings in Eaton were worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in shares of Eaton during the 4th quarter worth approximately $26,000. Flagship Wealth Advisors LLC bought a new position in Eaton during the fourth quarter worth $27,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton in the fourth quarter valued at $33,000. Vermillion Wealth Management Inc. bought a new position in shares of Eaton in the fourth quarter valued at about $33,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Eaton by 102.0% during the 1st 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 during the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ETN shares. Morgan Stanley lowered their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. BNP Paribas Exane started coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Evercore ISI increased their price objective on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Wells Fargo & Company lifted their price objective on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Eaton has a consensus rating of "Moderate Buy" and a consensus target price of $369.06.

Insider Buying and Selling

In other news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the transaction, the insider directly owned 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by company insiders.

Eaton Price Performance

ETN stock traded down $3.55 during midday trading on Monday, reaching $358.67. 1,800,538 shares of the stock were exchanged, compared to its average volume of 2,665,214. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a fifty day moving average price of $326.36 and a 200 day moving average price of $312.63. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The stock has a market capitalization of $140.35 billion, a PE ratio of 36.19, a P/E/G ratio of 2.73 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last announced 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. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the company earned $2.40 EPS. Eaton's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 41.98%.

Eaton Company 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.