Eaton Co. plc (NYSE:ETN) Holdings Raised by Greystone Financial Group LLC

Greystone Financial Group LLC boosted its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 41.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,999 shares of the industrial products company's stock after purchasing an additional 880 shares during the quarter. Greystone Financial Group LLC's holdings in Eaton were worth $815,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital A Wealth Management LLC bought a new stake in shares of Eaton during the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Eaton during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton in the 4th quarter worth approximately $33,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Eaton during the 4th quarter valued at approximately $33,000. Institutional investors own 82.97% of the company's stock.

Eaton Price Performance

NYSE ETN opened at $331.71 on Monday. The firm has a market cap of $129.80 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. The stock's 50-day moving average is $298.11 and its two-hundred day moving average is $315.95. 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.

Eaton (NYSE:ETN - Get Free Report) last posted its 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 firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.40 EPS. On average, analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company 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 was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.25%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider now owns 490,208 shares of the company's stock, valued at approximately $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 SEC, which is available through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following 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 a total of 156,660 shares of company stock valued at $49,622,894 in the last quarter. Insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ETN shares. Evercore ISI increased their target price on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. BNP Paribas Exane began coverage on shares of Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Wells Fargo & Company reiterated an "overweight" rating and set a $355.00 price objective on shares of Eaton in a research report on Monday, May 5th. Finally, Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Five 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.com, Eaton presently has an average rating of "Moderate Buy" and a consensus price target of $367.83.

About Eaton

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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