Romano Brothers AND Company Has $4.56 Million Position in Eaton Co. plc (NYSE:ETN)

Romano Brothers AND Company increased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,786 shares of the industrial products company's stock after acquiring an additional 934 shares during the quarter. Romano Brothers AND Company's holdings in Eaton were worth $4,563,000 as of its most recent SEC filing.

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

Eaton Stock Performance

ETN traded up $1.47 on Wednesday, reaching $327.31. The company had a trading volume of 1,669,476 shares, compared to its average volume of 2,661,434. The stock has a market cap of $128.08 billion, a P/E ratio of 34.45, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The company's fifty day moving average is $294.86 and its 200 day moving average is $317.00.

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, beating the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.40 earnings per share. As a group, analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio is 41.98%.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction 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 transaction, the insider now owns 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock worth $49,622,894 in the last quarter. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ETN has been the topic of a number of research analyst reports. KeyCorp raised their price objective on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Wells Fargo & Company reiterated an "overweight" rating and set a $355.00 target price on shares of Eaton in a report on Monday, May 5th. Morgan Stanley cut their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Royal Bank of Canada increased their price objective on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Finally, BNP Paribas began coverage on Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and an average price target of $367.83.

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.