Stratos Investment Management LLC Boosts Holdings in Eaton Corporation, PLC (NYSE:ETN)

Stratos Investment Management LLC lifted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 30.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,278 shares of the industrial products company's stock after buying an additional 769 shares during the quarter. Stratos Investment Management LLC's holdings in Eaton were worth $891,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Eaton in the fourth quarter valued at approximately $1,495,582,000. GAMMA Investing LLC lifted its position in Eaton by 27,281.9% in the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after acquiring an additional 3,580,198 shares in the last quarter. Capital International Investors acquired a new stake in Eaton in the 4th quarter valued at $523,541,000. Leigh Baldwin & CO. LLC acquired a new stake in Eaton in the 4th quarter valued at $231,552,000. Finally, Janus Henderson Group PLC increased its stake in shares of Eaton by 24.3% during the 4th quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company's stock worth $998,144,000 after purchasing an additional 588,370 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Evercore ISI boosted their price objective on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. BNP Paribas began coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Barclays increased their target price on shares of Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Morgan Stanley dropped their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada lifted their price objective 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. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $370.63.

Eaton Stock Performance

Shares of NYSE ETN traded down $2.61 during trading on Thursday, reaching $357.17. 1,372,695 shares of the company traded hands, compared to its average volume of 2,663,566. The firm has a 50 day simple moving average of $330.40 and a 200-day simple moving average of $313.40. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $139.76 billion, a PE ratio of 36.08, a P/E/G ratio of 2.69 and a beta of 1.17. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $2.40 EPS. Equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid 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 payout ratio is 41.98%.

Insider Buying and Selling

In other news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred 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 sale, the insider owned 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider owned 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 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.