Eaton Corporation, PLC (NYSE:ETN) Position Boosted by Joseph Group Capital Management

Joseph Group Capital Management grew its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 27.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 17,816 shares of the industrial products company's stock after purchasing an additional 3,839 shares during the quarter. Eaton accounts for 1.9% of Joseph Group Capital Management's portfolio, making the stock its 17th largest position. Joseph Group Capital Management's holdings in Eaton were worth $4,843,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of Eaton during the 4th quarter worth $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton during the 4th quarter worth $27,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after acquiring an additional 51 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton during the 4th quarter worth $33,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Eaton during the 4th quarter worth $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. JPMorgan Chase & Co. raised their price target on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Morgan Stanley lowered their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. KeyCorp lifted 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. Finally, Royal Bank Of Canada lifted their target price on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Six equities 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $370.63.

Eaton Stock Performance

ETN stock opened at $357.78 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The company has a 50 day moving average price of $331.52 and a 200 day moving average price of $313.54. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The stock has a market capitalization of $140.00 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17.

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

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio (DPR) is 41.98%.

Insider Buying and Selling at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the business's 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 owned 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the company'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 completion of the transaction, the insider directly owned 490,208 shares of the company's stock, valued at approximately $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 in the last three months. 0.30% of the stock is owned by company insiders.

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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