Eaton Corporation, PLC (NYSE:ETN) Shares Sold by Dakota Wealth Management

Dakota Wealth Management cut its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 80.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,715 shares of the industrial products company's stock after selling 39,721 shares during the period. Dakota Wealth Management's holdings in Eaton were worth $2,641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Apollon Wealth Management LLC boosted its position in shares of Eaton by 80.1% in the 1st quarter. Apollon Wealth Management LLC now owns 31,062 shares of the industrial products company's stock worth $8,444,000 after buying an additional 13,819 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in Eaton by 254.6% in the 1st quarter. Hohimer Wealth Management LLC now owns 3,202 shares of the industrial products company's stock valued at $870,000 after purchasing an additional 2,299 shares in the last quarter. Bogart Wealth LLC lifted its holdings in Eaton by 5.1% in the 1st quarter. Bogart Wealth LLC now owns 2,856 shares of the industrial products company's stock valued at $776,000 after purchasing an additional 139 shares in the last quarter. Sigma Planning Corp lifted its holdings in Eaton by 10.3% in the 1st quarter. Sigma Planning Corp now owns 13,188 shares of the industrial products company's stock valued at $3,585,000 after purchasing an additional 1,232 shares in the last quarter. Finally, Catalyst Financial Partners LLC lifted its holdings in Eaton by 1.1% in the 1st quarter. Catalyst Financial Partners LLC now owns 4,277 shares of the industrial products company's stock valued at $1,163,000 after purchasing an additional 45 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ETN. Royal Bank Of Canada upped their target price on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. The Goldman Sachs Group upped their price objective on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Evercore ISI upped their price objective on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Morgan Stanley dropped their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, 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. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and an average target price of $377.89.

Eaton Stock Up 4.8%

NYSE:ETN traded up $17.60 during trading hours on Thursday, hitting $380.49. The stock had a trading volume of 3,686,854 shares, compared to its average volume of 2,675,046. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $381.75. The business has a 50 day simple moving average of $336.45 and a two-hundred day simple moving average of $314.15. The company has a market cap of $148.88 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 2.73 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the company earned $2.40 earnings per share. Eaton's revenue for the quarter was up 7.3% on a year-over-year basis. Analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

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. This represents a $4.16 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio (DPR) is currently 41.98%.

Insiders Place Their Bets

In other Eaton news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider directly owned 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction on 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 completion of the sale, the insider owned 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock worth $49,622,894 over the last quarter. 0.30% of the stock is currently owned by company 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.