Joseph Group Capital Management Acquires 3,839 Shares of Eaton Corporation, PLC (NYSE:ETN)

Joseph Group Capital Management grew its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 27.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,816 shares of the industrial products company's stock after acquiring an additional 3,839 shares during the quarter. Eaton comprises about 1.9% of Joseph Group Capital Management's portfolio, making the stock its 17th biggest position. Joseph Group Capital Management's holdings in Eaton were worth $4,843,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ETN. Capital A Wealth Management LLC acquired a new position in shares of Eaton in the 4th quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter valued at about $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton during the 4th quarter valued at about $33,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Eaton during the 4th quarter valued at about $33,000. Finally, Creative Financial Designs Inc. ADV grew its position 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 valued at $27,000 after acquiring an additional 51 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Trading Up 0.8%

ETN traded up $3.03 during trading on Friday, hitting $360.67. The company's stock had a trading volume of 1,697,991 shares, compared to its average volume of 2,669,931. The firm's 50 day moving average price is $331.52 and its 200-day moving average price is $313.54. 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 stock has a market cap of $141.13 billion, a PE ratio of 36.39, a PEG ratio of 2.70 and a beta of 1.17. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. Eaton's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.40 earnings per share. On average, analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is 41.98%.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider owned 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Yelton sold 2,120 shares of the business's 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 transaction, the insider owned 3,382 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. The Goldman Sachs Group raised their price objective on Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research report on Tuesday. BNP Paribas Exane began coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. BNP Paribas initiated coverage on shares of Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Finally, Evercore ISI raised their price target on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $370.63.

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.