1,255 Shares in Eaton Co. plc (NYSE:ETN) Purchased by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX purchased a new position in Eaton Co. plc (NYSE:ETN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,255 shares of the industrial products company's stock, valued at approximately $440,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in shares of Eaton during the fourth quarter valued at approximately $195,000. Sunbeam Capital Management LLC purchased a new position in Eaton during the 4th quarter worth approximately $788,000. Ascent Group LLC raised its stake in Eaton by 6.0% during the 4th quarter. Ascent Group LLC now owns 5,351 shares of the industrial products company's stock valued at $1,776,000 after purchasing an additional 302 shares during the period. Vermillion Wealth Management Inc. purchased a new stake in shares of Eaton in the fourth quarter valued at $33,000. Finally, AlphaCore Capital LLC boosted its position in shares of Eaton by 4.3% in the fourth quarter. AlphaCore Capital LLC now owns 4,383 shares of the industrial products company's stock worth $1,455,000 after buying an additional 179 shares during the period. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank of Canada raised their price objective on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Barclays decreased their price target on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Citigroup upped their price objective on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $367.83.

Eaton Stock Down 1.5%

NYSE ETN traded down $4.90 during trading on Friday, hitting $319.91. The company's stock had a trading volume of 1,332,313 shares, compared to its average volume of 2,659,832. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market cap of $125.18 billion, a PE ratio of 33.68, a P/E/G ratio of 2.64 and a beta of 1.14. The business's 50 day simple moving average is $292.89 and its 200-day simple moving average is $318.23.

Eaton (NYSE:ETN - Get Free Report) last announced 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. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.40 earnings per share. On average, equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.30%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Insider Buying and Selling

In other news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider now owns 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 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 disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 in the last three months. 0.30% of the stock is owned by corporate insiders.

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.