Eaton Corporation, PLC (NYSE:ETN) Shares Acquired by Continuum Advisory LLC

Continuum Advisory LLC lifted its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 54.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,943 shares of the industrial products company's stock after purchasing an additional 3,498 shares during the period. Continuum Advisory LLC's holdings in Eaton were worth $2,703,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Eaton by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after buying an additional 99,291 shares during the period. FMR LLC increased its holdings in shares of Eaton by 1.2% in the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock worth $5,051,807,000 after purchasing an additional 182,455 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Eaton by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock worth $2,714,677,000 after buying an additional 129,071 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Eaton by 4.3% during the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock valued at $1,550,226,000 after buying an additional 192,482 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Eaton by 8.8% during the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after buying an additional 368,241 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 51,054 shares of Eaton 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 approximately $149,490,880.92. This trade represents a 9.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock worth $49,622,894 in the last ninety days. 0.30% of the stock is owned by company insiders.

Eaton Trading Up 3.2%

Shares of ETN stock traded up $10.60 on Tuesday, reaching $343.55. 2,977,646 shares of the company's stock were exchanged, compared to its average volume of 2,657,115. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $134.43 billion, a PE ratio of 34.67, a P/E/G ratio of 2.58 and a beta of 1.16. The company's fifty day simple moving average is $313.24 and its 200 day simple moving average is $312.76.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data 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 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 23.41% and a net margin of 15.55%. Eaton's quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted $2.40 EPS. As a group, analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.21%. Eaton's payout ratio is currently 41.98%.

Analysts Set New Price Targets

A number of brokerages recently commented on ETN. Morgan Stanley dropped their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. BNP Paribas Exane began coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. 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 note on Monday, May 5th. Finally, KeyCorp increased their price target on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $368.78.

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.