Eaton Corporation, PLC (NYSE:ETN) Shares Bought by Aljian Capital Management LLC

Aljian Capital Management LLC raised its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 30.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,317 shares of the industrial products company's stock after purchasing an additional 1,015 shares during the quarter. Aljian Capital Management LLC's holdings in Eaton were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ETN. Brighton Jones LLC increased its stake in shares of Eaton by 1.4% in the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after purchasing an additional 45 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock valued at $303,000 after purchasing an additional 136 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in shares of Eaton during the fourth quarter valued at approximately $42,839,000. Kovack Advisors Inc. acquired a new position in shares of Eaton during the fourth quarter valued at approximately $226,000. Finally, Fort Sheridan Advisors LLC increased its stake in shares of Eaton by 9.0% during the fourth quarter. Fort Sheridan Advisors LLC now owns 1,361 shares of the industrial products company's stock valued at $452,000 after acquiring an additional 112 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Barclays raised their price objective on shares of Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a research note on Monday, June 9th. BNP Paribas began coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. Evercore ISI increased their target price on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Finally, Citigroup increased their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $368.78.

Eaton Stock Up 1.6%

Eaton stock opened at $353.74 on Friday. The company has a market cap of $138.42 billion, a P/E ratio of 35.70, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16. 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 company has a fifty day simple moving average of $318.04 and a 200 day simple moving average of $312.49. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $379.99.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. Eaton's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.40 EPS. Research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.18%. Eaton's dividend payout ratio is currently 41.98%.

Insider Buying and Selling at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the company's 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction on 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 owns 489,444 shares of the company's stock, valued at $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 over the last three months. Corporate insiders own 0.30% of the company's stock.

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.

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