Daymark Wealth Partners LLC increased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,541 shares of the industrial products company's stock after purchasing an additional 1,810 shares during the period. Daymark Wealth Partners LLC's holdings in Eaton were worth $5,855,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Norden Group LLC boosted its position in shares of Eaton by 3.4% in the fourth quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock valued at $325,000 after acquiring an additional 32 shares during the period. TFC Financial Management Inc. raised its stake in Eaton by 4.7% in the 4th quarter. TFC Financial Management Inc. now owns 752 shares of the industrial products company's stock worth $250,000 after purchasing an additional 34 shares in the last quarter. Nwam LLC raised its stake in Eaton by 0.6% in the 4th quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock worth $1,764,000 after purchasing an additional 34 shares in the last quarter. Founders Financial Alliance LLC boosted its holdings in Eaton by 0.7% in the 4th quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock valued at $1,797,000 after purchasing an additional 35 shares during the period. Finally, Sound View Wealth Advisors Group LLC grew its position in shares of Eaton by 1.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company's stock worth $1,190,000 after purchasing an additional 38 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.
Insider Activity
In other Eaton news, 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 transaction of $629,364.40. Following the completion of the transaction, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company's stock.
Analysts Set New Price Targets
ETN has been the subject of a number of analyst reports. BNP Paribas began coverage on shares of Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Barclays lowered their price objective on Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research note on Friday, April 4th. Citigroup upped their target price on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Finally, Morgan Stanley dropped their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Five equities research 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $367.83.
Check Out Our Latest Report on Eaton
Eaton Price Performance
Shares of NYSE:ETN opened at $331.71 on Monday. Eaton Co. plc has a one year low of $231.85 and a one year 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 $129.80 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.64 and a beta of 1.16. The firm has a 50 day simple moving average of $298.11 and a 200 day simple moving average of $315.95.
Eaton (NYSE:ETN - Get Free Report) last announced its quarterly 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 net margin of 15.25% and a return on equity of 22.62%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the prior year, the business earned $2.40 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.
Eaton Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.25%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio (DPR) is currently 41.98%.
Eaton Company Profile
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Free Report)
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.
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