Eaton Corporation, PLC (NYSE:ETN) Shares Bought by Elyxium Wealth LLC

Elyxium Wealth LLC increased its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 65.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,845 shares of the industrial products company's stock after acquiring an additional 1,126 shares during the period. Elyxium Wealth LLC's holdings in Eaton were worth $773,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Eaton by 0.7% in the first quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock valued at $3,593,000 after purchasing an additional 96 shares during the last quarter. Bearing Point Capital LLC purchased a new stake in Eaton in the 4th quarter valued at approximately $2,713,000. Brighton Jones LLC grew its holdings in Eaton by 4.9% during the 1st quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock valued at $953,000 after buying an additional 164 shares during the last quarter. Kennebec Savings Bank increased its position 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 buying an additional 139 shares in the last quarter. Finally, American National Bank & Trust raised its holdings in shares of Eaton by 5.4% in the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after acquiring an additional 162 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the sale, the insider owned 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider directly owned 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company's stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $378.89 on Friday. The firm has a market capitalization of $148.26 billion, a PE ratio of 38.23, a PEG ratio of 2.86 and a beta of 1.17. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $384.51. The business's 50 day moving average is $339.29 and its 200-day moving average is $314.69.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 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 quarter last year, the company earned $2.40 EPS. Eaton's revenue was up 7.3% on a year-over-year basis. Sell-side analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.10%. Eaton's payout ratio is 41.98%.

Analyst Ratings Changes

ETN has been the topic of several recent analyst reports. Morgan Stanley reduced 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. BNP Paribas began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. JPMorgan Chase & Co. lifted their price objective on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and set a $396.00 target price on shares of Eaton in a research report on Monday, July 14th. Six investment 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 an average rating of "Moderate Buy" and an average price target of $377.89.

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.

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