Johnson Investment Counsel Inc. Purchases 755 Shares of Eaton Corporation, PLC (NYSE:ETN)

Johnson Investment Counsel Inc. lifted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 10.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,934 shares of the industrial products company's stock after purchasing an additional 755 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Eaton were worth $2,157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Bearing Point Capital LLC bought a new stake in Eaton during the fourth quarter worth about $2,713,000. Brighton Jones LLC raised its holdings in Eaton by 4.9% during the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock worth $953,000 after acquiring an additional 164 shares in the last quarter. Kennebec Savings Bank raised its holdings in Eaton by 5.4% during the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock worth $738,000 after acquiring an additional 139 shares in the last quarter. American National Bank & Trust raised its stake in shares of Eaton by 5.4% during the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after purchasing an additional 162 shares in the last quarter. Finally, Castle Rock Wealth Management LLC raised its stake in shares of Eaton by 7.0% during the 4th quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company's stock worth $2,575,000 after purchasing an additional 543 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

ETN stock traded down $3.52 during trading hours on Friday, hitting $331.34. 4,406,960 shares of the stock were exchanged, compared to its average volume of 2,656,564. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $129.65 billion, a P/E ratio of 29.79, a P/E/G ratio of 2.57 and a beta of 1.16. The company has a 50-day simple moving average of $310.79 and a two-hundred day simple moving average of $313.22. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the firm earned $2.40 earnings per share. Eaton's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.26%. Eaton's dividend payout ratio is presently 41.98%.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 2,120 shares of the company's 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 sale, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock worth $49,622,894 in the last 90 days. Company insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ETN shares. Royal Bank Of Canada upped their price target 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. Jefferies Financial Group dropped their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Barclays upped their target price on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a report on Monday, June 9th. Morgan Stanley dropped their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton 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.