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

Hohimer Wealth Management LLC grew its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 254.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,202 shares of the industrial products company's stock after acquiring an additional 2,299 shares during the quarter. Hohimer Wealth Management LLC's holdings in Eaton were worth $870,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in Eaton during the 4th quarter worth $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton during the 4th quarter worth $27,000. Creative Financial Designs Inc. ADV boosted its position in Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after acquiring an additional 51 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton in the 4th quarter worth $33,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Eaton in the 4th quarter worth $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ETN. BNP Paribas Exane began coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Evercore ISI boosted their price objective on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Royal Bank Of Canada boosted their price objective on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, BNP Paribas began coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Six research 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 currently has a consensus rating of "Moderate Buy" and an average target price of $370.63.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction dated 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 in the company, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $629,364.40. Following the sale, the insider owned 3,382 shares of the company's stock, 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. Insiders sold 156,660 shares of company stock worth $49,622,894 in the last 90 days. Corporate insiders own 0.30% of the company's stock.

Eaton Stock Up 0.8%

NYSE:ETN opened at $360.67 on Monday. The firm has a market capitalization of $141.13 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 2.72 and a beta of 1.17. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $379.99. 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 business's fifty day moving average price is $332.74 and its 200 day moving average price is $313.29.

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

Eaton Dividend Announcement

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 $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.15%. Eaton's dividend payout ratio (DPR) is currently 41.98%.

About Eaton

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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