Eaton Co. plc (NYSE:ETN) is Moseley Investment Management Inc.'s 9th Largest Position

Moseley Investment Management Inc. increased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 15.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,023 shares of the industrial products company's stock after buying an additional 3,190 shares during the quarter. Eaton accounts for 2.6% of Moseley Investment Management Inc.'s portfolio, making the stock its 9th biggest holding. Moseley Investment Management Inc.'s holdings in Eaton were worth $6,530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Capital A Wealth Management LLC acquired a new stake in shares of Eaton during the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC bought a new stake 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 in the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp bought a new position in Eaton in the 4th quarter worth approximately $33,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Eaton during the 4th quarter worth $33,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ETN shares. Jefferies Financial Group dropped their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Royal Bank of Canada lifted their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. JPMorgan Chase & Co. lifted 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. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Finally, Morgan Stanley cut their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Five research 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, Eaton currently has an average rating of "Moderate Buy" and an average target price of $368.78.

Eaton Price Performance

Shares of NYSE ETN traded down $7.08 during midday trading on Friday, reaching $323.26. 1,565,268 shares of the company were exchanged, compared to its average volume of 2,641,084. The stock's 50-day moving average price is $304.79 and its 200-day moving average price is $315.02. The stock has a market cap of $126.49 billion, a P/E ratio of 34.03, a PEG 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. Eaton Co. plc has a one year low of $231.85 and a one year 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. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $2.40 EPS. On average, sell-side analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio is presently 41.98%.

Insider Buying and Selling

In other news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the sale, the insider now owns 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The transaction 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 company'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 completion of the sale, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This represents 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 over the last 90 days. Company insiders own 0.30% of the company's stock.

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.