Eaton Corporation, PLC (NYSE:ETN) Shares Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC raised its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 9.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 15,078 shares of the industrial products company's stock after buying an additional 1,357 shares during the quarter. Crestwood Advisors Group LLC's holdings in Eaton were worth $4,099,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in shares of Eaton during the fourth quarter worth about $26,000. Creative Financial Designs Inc. ADV lifted its position in Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Eaton during the fourth quarter worth approximately $33,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Eaton during the 4th quarter valued at $33,000. Finally, Abound Wealth Management grew its position in Eaton by 73.8% during the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after purchasing an additional 62 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction that occurred on 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 transaction, the insider owned 490,208 shares of the company's stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Yelton sold 2,120 shares of the firm'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 sale, the insider directly owned 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ETN has been the topic of a number of recent research reports. Citigroup lifted their price objective on shares of Eaton from $351.00 to $420.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Barclays increased their price objective on shares of Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada lifted their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Evercore ISI lifted their price target on shares of 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 issued a $396.00 price target on shares of Eaton in a report on Monday, July 14th. Six research 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $377.89.

Eaton Trading Down 1.3%

Shares of ETN opened at $373.71 on Tuesday. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $384.51. The stock has a market capitalization of $146.23 billion, a P/E ratio of 37.71, a PEG ratio of 2.86 and a beta of 1.17. The firm has a fifty day simple moving average of $339.29 and a two-hundred day simple moving average of $314.57. 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 (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating 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%. The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.40 EPS. On average, research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current year.

About Eaton

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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