Castellan Group Has $4.48 Million Stake in Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Castellan Group significantly increased its stake in Eaton Corporation by 115.7% in the first quarter, now owning 16,474 shares valued at approximately $4.48 million.
• Analysts have raised their price targets for Eaton, with recent estimates ranging from $340.00 to $420.00, reflecting strong growth potential and leading to a consensus rating of "Moderate Buy."
• Eaton announced a quarterly dividend of $1.04 per share, contributing to an annualized yield of 1.1%, with an upcoming payment date of August 22nd.

Castellan Group increased its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 115.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,474 shares of the industrial products company's stock after buying an additional 8,838 shares during the quarter. Castellan Group's holdings in Eaton were worth $4,478,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Checchi Capital Advisers LLC grew its position in Eaton by 0.7% in the 1st quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock valued at $1,378,000 after buying an additional 37 shares in the last quarter. Lantern Wealth Advisors LLC lifted its stake in shares of Eaton by 1.0% in the 4th quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock worth $1,340,000 after acquiring an additional 38 shares during the period. AGH Wealth Advisors LLC boosted its holdings in shares of Eaton by 2.6% in the first quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock valued at $412,000 after acquiring an additional 38 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Eaton by 4.2% during the first quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock valued at $259,000 after acquiring an additional 38 shares during the period. Finally, Tritonpoint Wealth LLC lifted its position in Eaton by 3.9% in the first quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company's stock worth $282,000 after purchasing an additional 39 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Down 0.8%

Shares of NYSE ETN traded down $3.20 during trading hours on Friday, hitting $381.52. The stock had a trading volume of 2,416,764 shares, compared to its average volume of 2,049,141. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The company has a market capitalization of $149.29 billion, a P/E ratio of 38.50, a P/E/G ratio of 2.88 and a beta of 1.18. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $399.56. The firm's 50-day moving average price is $350.92 and its two-hundred day moving average price is $317.79.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $6.26 billion. During the same period in the previous year, the company posted $2.40 earnings per share. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. Analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton's payout ratio is 41.98%.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider owned 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the insider owned 3,382 shares of the company's stock, 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 a total of 156,660 shares of company stock worth $49,622,894 in the last three months. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup boosted their price target on shares of Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. KeyCorp increased their price target on Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Barclays upped their price objective on shares of Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Evercore ISI raised their target price on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada boosted their price target on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $377.89.

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.