DekaBank Deutsche Girozentrale Purchases 30,727 Shares of Eaton Corporation, PLC (NYSE:ETN)

DekaBank Deutsche Girozentrale grew its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 704,358 shares of the industrial products company's stock after acquiring an additional 30,727 shares during the period. DekaBank Deutsche Girozentrale owned about 0.18% of Eaton worth $189,080,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC increased its stake in Eaton by 10.6% during the 1st quarter. Personal CFO Solutions LLC now owns 1,963 shares of the industrial products company's stock worth $534,000 after buying an additional 188 shares during the period. Stratos Wealth Advisors LLC grew its stake in Eaton by 22.5% in the 1st quarter. Stratos Wealth Advisors LLC now owns 1,722 shares of the industrial products company's stock valued at $468,000 after acquiring an additional 316 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Eaton by 15.1% during the 1st quarter. Stratos Wealth Partners LTD. now owns 33,413 shares of the industrial products company's stock worth $9,083,000 after acquiring an additional 4,390 shares during the period. Stratos Investment Management LLC raised its holdings in Eaton by 30.6% in the first quarter. Stratos Investment Management LLC now owns 3,278 shares of the industrial products company's stock valued at $891,000 after buying an additional 769 shares during the period. Finally, Brown Advisory Inc. raised its stake in shares of Eaton by 0.9% during the first quarter. Brown Advisory Inc. now owns 36,496 shares of the industrial products company's stock valued at $9,921,000 after purchasing an additional 316 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 103,486 shares of the stock in a transaction 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 $158,214,632. This represents a 17.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on 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 sale, the insider owned 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,660 shares of company stock valued at $49,622,894. Corporate insiders own 0.30% of the company's stock.

Eaton Trading Down 0.4%

NYSE ETN traded down $1.32 during trading hours on Tuesday, hitting $357.17. 1,739,272 shares of the company's stock were exchanged, compared to its average volume of 2,661,528. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99. The firm has a market capitalization of $139.76 billion, a P/E ratio of 36.04, a price-to-earnings-growth ratio of 2.73 and a beta of 1.17. The business's 50 day moving average is $327.78 and its 200-day moving average is $312.77.

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, topping 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 during the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the firm posted $2.40 earnings per share. The business's revenue was up 7.3% on a year-over-year basis. As a group, analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The business 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. This represents a $4.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio (DPR) is currently 41.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays increased their target price on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. Evercore ISI upped their price target on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. KeyCorp increased their target price on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Wells Fargo & Company increased their target price on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Finally, The Goldman Sachs Group lifted their target price on Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $369.74.

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.