Eaton Co. plc (NYSE:ETN) Shares Sold by Bowman & Co S.C.

Bowman & Co S.C. decreased its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 8.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,451 shares of the industrial products company's stock after selling 993 shares during the period. Eaton comprises approximately 1.5% of Bowman & Co S.C.'s holdings, making the stock its 14th largest holding. Bowman & Co S.C.'s holdings in Eaton were worth $3,115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norden Group LLC raised its position in Eaton by 3.4% in the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock valued at $325,000 after purchasing an additional 32 shares in the last quarter. TFC Financial Management Inc. raised its position in Eaton by 4.7% in the 4th quarter. TFC Financial Management Inc. now owns 752 shares of the industrial products company's stock valued at $250,000 after purchasing an additional 34 shares in the last quarter. Nwam LLC raised its position in Eaton by 0.6% in the 4th quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock valued at $1,764,000 after purchasing an additional 34 shares in the last quarter. Founders Financial Alliance LLC raised its position in Eaton by 0.7% in the 4th quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock valued at $1,797,000 after purchasing an additional 35 shares in the last quarter. Finally, Nvwm LLC raised its position in Eaton by 0.8% in the 4th quarter. Nvwm LLC now owns 4,737 shares of the industrial products company's stock valued at $1,572,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. The trade was 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 link. Also, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of analyst reports. Royal Bank of Canada increased their price target on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Barclays cut their target price on Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research report on Friday, April 4th. Citigroup raised their target price on Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Wells Fargo & Company reissued an "overweight" rating and set a $355.00 target price on shares of Eaton in a research report on Monday, May 5th. Finally, KeyCorp raised their target price on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $367.83.

Eaton Stock Performance

Shares of ETN stock traded up $7.05 during midday trading on Tuesday, hitting $325.91. The company had a trading volume of 1,978,882 shares, compared to its average volume of 2,664,720. The company's 50 day simple moving average is $293.96 and its 200 day simple moving average is $316.94. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The stock has a market cap of $127.53 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 2.64 and a beta of 1.14. 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 announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the business posted $2.40 EPS. The company's revenue was up 7.3% on a year-over-year basis. Research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.28%. Eaton's dividend payout ratio (DPR) is currently 41.98%.

Eaton 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.