Eaton Corporation, PLC (NYSE:ETN) Shares Acquired by Community Financial Services Group LLC

Community Financial Services Group LLC grew its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 8.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,145 shares of the industrial products company's stock after purchasing an additional 2,308 shares during the period. Eaton makes up approximately 1.7% of Community Financial Services Group LLC's portfolio, making the stock its 17th biggest holding. Community Financial Services Group LLC's holdings in Eaton were worth $7,651,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Petros Family Wealth LLC grew its holdings in Eaton by 11.5% during the first quarter. Petros Family Wealth LLC now owns 1,482 shares of the industrial products company's stock worth $403,000 after acquiring an additional 153 shares during the period. YHB Investment Advisors Inc. grew its holdings in Eaton by 9.2% during the first quarter. YHB Investment Advisors Inc. now owns 17,849 shares of the industrial products company's stock worth $4,852,000 after acquiring an additional 1,507 shares during the period. Consolidated Portfolio Review Corp grew its holdings in Eaton by 48.6% during the first quarter. Consolidated Portfolio Review Corp now owns 942 shares of the industrial products company's stock worth $256,000 after acquiring an additional 308 shares during the period. Palisade Asset Management LLC grew its holdings in Eaton by 21.6% during the first quarter. Palisade Asset Management LLC now owns 1,102 shares of the industrial products company's stock worth $300,000 after acquiring an additional 196 shares during the period. Finally, Legacy Advisors LLC grew its holdings in Eaton by 6.5% during the first quarter. Legacy Advisors LLC now owns 2,530 shares of the industrial products company's stock worth $688,000 after acquiring an additional 154 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ETN. BNP Paribas began coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. KeyCorp boosted 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. Evercore ISI boosted their target price on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Royal Bank Of Canada boosted 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. Finally, Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research report on Sunday, May 18th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Eaton has a consensus rating of "Moderate Buy" and an average target price of $368.78.

Eaton Stock Up 0.6%

Shares of NYSE:ETN opened at $333.29 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99. The stock's fifty day simple moving average is $311.91 and its 200-day simple moving average is $312.55. The company has a market capitalization of $130.42 billion, a P/E ratio of 33.63, a P/E/G ratio of 2.57 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data 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 business 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 business earned $2.40 earnings per share. The business's revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.25%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Insider Buying and Selling

In related news, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider now owns 490,208 shares of the company's stock, valued at $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,660 shares of company stock worth $49,622,894. 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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