Eagle Rock Investment Company LLC Purchases 915 Shares of Eaton Co. plc (NYSE:ETN)

Eagle Rock Investment Company LLC increased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 23.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,865 shares of the industrial products company's stock after buying an additional 915 shares during the quarter. Eagle Rock Investment Company LLC's holdings in Eaton were worth $1,322,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ETN. AGH Wealth Advisors LLC grew its stake in 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 purchasing an additional 38 shares in the last quarter. Unique Wealth LLC grew its stake in Eaton by 27.3% in the first quarter. Unique Wealth LLC now owns 5,535 shares of the industrial products company's stock valued at $1,505,000 after purchasing an additional 1,187 shares in the last quarter. KRS Capital Management LLC grew its stake in Eaton by 6.2% in the first quarter. KRS Capital Management LLC now owns 3,081 shares of the industrial products company's stock valued at $838,000 after purchasing an additional 179 shares in the last quarter. Affinity Wealth Management LLC grew its stake in Eaton by 0.9% in the first quarter. Affinity Wealth Management LLC now owns 13,725 shares of the industrial products company's stock valued at $3,731,000 after purchasing an additional 125 shares in the last quarter. Finally, Curat Global LLC bought a new position in Eaton in the first quarter valued at approximately $86,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now owns 489,444 shares in the company, valued at approximately $149,490,880.92. This trade represents a 9.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton 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 completion of the transaction, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. 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. Corporate insiders own 0.30% of the company's stock.

Eaton Stock Performance

NYSE:ETN opened at $331.71 on Friday. The stock has a market cap of $129.80 billion, a P/E ratio of 34.92, a PEG ratio of 2.64 and a beta of 1.16. The stock has a 50 day simple moving average of $298.11 and a 200 day simple moving average of $316.64. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.02. The business had revenue of $6.38 billion during 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 firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $2.40 EPS. Research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders 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 annualized dividend and a yield of 1.25%. Eaton's dividend payout ratio is presently 41.98%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. KeyCorp raised their price target on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Morgan Stanley decreased 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. Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Royal Bank of Canada lifted their target price on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $355.00 target price on shares of Eaton in a research note on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Eaton has a consensus rating of "Moderate Buy" and an average target price of $367.83.

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.

Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Co. plc (NYSE:ETN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.