Eaton Corporation, PLC (NYSE:ETN) is Darden Wealth Group Inc's 10th Largest Position

Darden Wealth Group Inc lessened its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 13.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,824 shares of the industrial products company's stock after selling 1,376 shares during the period. Eaton accounts for approximately 1.9% of Darden Wealth Group Inc's holdings, making the stock its 10th biggest position. Darden Wealth Group Inc's holdings in Eaton were worth $2,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. Capital A Wealth Management LLC purchased a new position in shares of Eaton in the 4th quarter worth $26,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after buying an additional 51 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of Eaton in the 4th quarter worth $33,000. Vermillion Wealth Management Inc. purchased a new position in shares of Eaton in the 4th quarter worth $33,000. Finally, Abound Wealth Management boosted its stake in shares of Eaton by 73.8% in the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after buying an additional 62 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Eaton Stock Performance

Shares of NYSE ETN traded up $3.35 during mid-day trading on Friday, hitting $384.07. The stock had a trading volume of 276,630 shares, compared to its average volume of 2,663,651. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The company has a 50 day moving average of $337.91 and a two-hundred day moving average of $314.48. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $387.50. The firm has a market cap of $150.29 billion, a PE ratio of 38.77, a PEG ratio of 2.74 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the prior year, the firm earned $2.40 EPS. The firm's revenue was up 7.3% on a year-over-year basis. Research analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio is currently 41.98%.

Insider Activity

In other news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 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 the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider directly owned 3,382 shares in the company, 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 have sold a total of 156,660 shares of company stock worth $49,622,894 over the last ninety days. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ETN has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Barclays lifted their target price on Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. BNP Paribas initiated coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Evercore ISI lifted their target price on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Finally, Sanford C. Bernstein reissued an "outperform" rating and set a $396.00 price target on shares of Eaton in a report on Monday. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $377.89.

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.

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