Eaton Co. plc (NYSE:ETN) Shares Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,467 shares of the industrial products company's stock after selling 863 shares during the period. Castle Rock Wealth Management LLC's holdings in Eaton were worth $2,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bearing Point Capital LLC acquired a new position in shares of Eaton in the fourth quarter worth approximately $2,713,000. McAdam LLC acquired a new position in shares of Eaton in the fourth quarter worth approximately $293,000. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Eaton by 256.8% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 57,521 shares of the industrial products company's stock worth $19,089,000 after acquiring an additional 41,399 shares during the period. Generate Investment Management Ltd acquired a new position in shares of Eaton in the fourth quarter worth approximately $12,678,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Eaton in the fourth quarter worth approximately $38,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ETN shares. JPMorgan Chase & Co. boosted their price target on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Wells Fargo & Company reissued an "overweight" rating and issued a $355.00 price target on shares of Eaton in a research note on Monday, May 5th. Evercore ISI boosted their price target on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Royal Bank of Canada boosted their price target on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Finally, KeyCorp boosted their price objective on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $367.83.

Insider Activity

In other Eaton news, insider Craig Arnold sold 103,486 shares of the 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 sale, the insider now owns 490,208 shares of the company's stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction on 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 now owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by insiders.

Eaton Trading Up 0.1%

ETN stock traded up $0.35 during midday trading on Thursday, reaching $327.43. 532,365 shares of the company traded hands, compared to its average volume of 2,647,159. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The business has a 50 day moving average of $295.92 and a 200-day moving average of $317.07. The firm has a market capitalization of $128.12 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 2.64 and a beta of 1.16.

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, beating analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.40 earnings per share. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.27%. Eaton's dividend payout ratio is 41.98%.

About Eaton

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.