Spring Capital Management LLC Has $9.14 Million Position in Eaton Co. plc (NYSE:ETN)

Spring Capital Management LLC grew its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,606 shares of the industrial products company's stock after buying an additional 1,394 shares during the period. Eaton accounts for 5.0% of Spring Capital Management LLC's investment portfolio, making the stock its 3rd largest position. Spring Capital Management LLC's holdings in Eaton were worth $9,135,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC grew its stake in Eaton by 4,072.5% in the 1st quarter. Whipplewood Advisors LLC now owns 17,024 shares of the industrial products company's stock worth $4,628,000 after buying an additional 16,616 shares in the last quarter. RFG Advisory LLC boosted its holdings in shares of Eaton by 47.9% in the 1st quarter. RFG Advisory LLC now owns 5,589 shares of the industrial products company's stock worth $1,519,000 after purchasing an additional 1,810 shares in the last quarter. Merit Financial Group LLC increased its position in shares of Eaton by 2.1% during the 1st quarter. Merit Financial Group LLC now owns 30,489 shares of the industrial products company's stock valued at $8,288,000 after purchasing an additional 631 shares during the last quarter. Paladin Wealth LLC lifted its position in Eaton by 16.3% in the 1st quarter. Paladin Wealth LLC now owns 2,321 shares of the industrial products company's stock worth $631,000 after buying an additional 326 shares during the last quarter. Finally, Gradient Investments LLC grew its position in Eaton by 28.9% during the first quarter. Gradient Investments LLC now owns 69,324 shares of the industrial products company's stock valued at $18,844,000 after acquiring an additional 15,542 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Eaton Trading Down 0.2%

NYSE:ETN traded down $0.58 during trading hours on Thursday, hitting $326.50. The company had a trading volume of 1,597,513 shares, compared to its average volume of 2,651,302. 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 stock has a 50-day moving average price of $295.92 and a 200 day moving average price of $317.07. The company has a market capitalization of $127.76 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 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 firm had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same period last year, the company posted $2.40 EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio is currently 41.98%.

Analyst Ratings Changes

ETN has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, May 16th. BNP Paribas assumed coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Jefferies Financial Group reduced their price target on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Citigroup boosted their price objective on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, Morgan Stanley cut their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.83.

Insider Activity

In other Eaton news, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction dated 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 sale, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Yelton sold 2,120 shares of Eaton 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 transaction, the insider now owns 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was 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 worth $49,622,894 in the last quarter. 0.30% of the stock is owned by company insiders.

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.