Dover Advisors LLC Has $3.68 Million Stake in Eaton Co. plc (NYSE:ETN)

Dover Advisors LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 15.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,527 shares of the industrial products company's stock after buying an additional 1,811 shares during the period. Eaton makes up 1.6% of Dover Advisors LLC's investment portfolio, making the stock its 10th largest holding. Dover Advisors LLC's holdings in Eaton were worth $3,677,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ETN. Vanguard Group Inc. increased its stake in Eaton by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock valued at $12,351,506,000 after purchasing an additional 99,291 shares in the last quarter. FMR LLC grew its holdings in shares of Eaton by 1.2% during the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock valued at $5,051,807,000 after buying an additional 182,455 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Eaton by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock worth $2,714,677,000 after acquiring an additional 129,071 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Eaton by 4.3% in the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock valued at $1,550,226,000 after acquiring an additional 192,482 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after purchasing an additional 368,241 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Eaton

In other Eaton news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the sale, the insider now owns 489,444 shares of the company's stock, valued at $149,490,880.92. The trade was a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 in the last three months. Company insiders own 0.30% of the company's stock.

Eaton Stock Performance

ETN traded up $15.05 on Monday, hitting $338.71. The company's stock had a trading volume of 1,779,997 shares, compared to its average volume of 3,261,417. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The firm has a market cap of $132.54 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company's 50 day simple moving average is $304.79 and its 200-day simple moving average is $314.23.

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 for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the previous year, the business earned $2.40 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. Analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio is presently 41.98%.

Analyst Ratings Changes

Several analysts have recently commented on ETN shares. Morgan Stanley lowered their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. BNP Paribas Exane initiated coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Barclays raised their price target on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. Finally, Jefferies Financial Group reduced their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Eaton has an average rating of "Moderate Buy" and an average price target of $368.78.

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.