Eaton Corporation, PLC (NYSE:ETN) is J. L. Bainbridge & Co. Inc.'s 7th Largest Position

J. L. Bainbridge & Co. Inc. lifted its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,459 shares of the industrial products company's stock after buying an additional 2,837 shares during the period. Eaton makes up about 4.5% of J. L. Bainbridge & Co. Inc.'s investment portfolio, making the stock its 7th biggest position. J. L. Bainbridge & Co. Inc.'s holdings in Eaton were worth $44,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its stake in shares of Eaton by 99.4% in the 1st quarter. Golden State Wealth Management LLC now owns 2,219 shares of the industrial products company's stock worth $603,000 after buying an additional 1,106 shares during the last quarter. Patron Partners LLC lifted its position in Eaton by 9.6% during the first quarter. Patron Partners LLC now owns 3,016 shares of the industrial products company's stock valued at $820,000 after purchasing an additional 263 shares in the last quarter. Westend Capital Management LLC purchased a new position in Eaton during the first quarter valued at $45,000. Crescent Grove Advisors LLC lifted its position in Eaton by 28.9% during the first quarter. Crescent Grove Advisors LLC now owns 1,856 shares of the industrial products company's stock valued at $504,000 after purchasing an additional 416 shares in the last quarter. Finally, Mcdaniel Terry & Co. purchased a new position in Eaton during the first quarter valued at $10,638,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Trading Up 1.6%

Shares of NYSE:ETN traded up $5.60 during trading hours on Friday, hitting $353.74. 3,704,268 shares of the company's stock traded hands, compared to its average volume of 2,665,307. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $379.99. The business has a fifty day moving average price of $318.04 and a 200-day moving average price of $312.49. The firm has a market capitalization 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 debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $6.26 billion. During the same quarter in the previous year, the business earned $2.40 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced 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 of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.18%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Barclays lifted their target price on Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. Wells Fargo & Company reissued an "overweight" rating and set a $355.00 price target on shares of Eaton in a report on Monday, May 5th. KeyCorp raised their price target on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Finally, Citigroup raised their price target on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $368.78.

Insider Buying and Selling at Eaton

In related news, 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 completion of the sale, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction that occurred 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 now owns 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% 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 over the last 90 days. Company insiders own 0.30% of the company's stock.

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.