Lmcg Investments LLC Purchases 14,868 Shares of Eaton Co. plc (NYSE:ETN)

Lmcg Investments LLC boosted its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 154.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,473 shares of the industrial products company's stock after buying an additional 14,868 shares during the period. Lmcg Investments LLC's holdings in Eaton were worth $6,652,000 at the end of the most recent reporting period.

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

Eaton Stock Performance

Shares of Eaton stock traded up $5.23 on Friday, reaching $331.71. The stock had a trading volume of 2,206,422 shares, compared to its average volume of 2,650,186. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The business's 50-day moving average price is $297.01 and its two-hundred day moving average price is $316.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock 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.

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

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.25%. Eaton's dividend payout ratio is 41.98%.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of Eaton 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 sale, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider now directly owns 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ETN shares. Royal Bank of Canada raised their price objective on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Morgan Stanley decreased their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Evercore ISI boosted their price objective on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. KeyCorp increased their target price on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, BNP Paribas Exane assumed coverage on shares of Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.