Kovack Advisors Inc. Grows Stake in Eaton Corporation, PLC (NYSE:ETN)

Kovack Advisors Inc. raised its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 343.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,021 shares of the industrial products company's stock after purchasing an additional 2,340 shares during the quarter. Kovack Advisors Inc.'s holdings in Eaton were worth $821,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Checchi Capital Advisers LLC lifted its position in shares of Eaton by 0.7% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock valued at $1,378,000 after acquiring an additional 37 shares during the last quarter. Lantern Wealth Advisors LLC raised its holdings in Eaton by 1.0% during the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock valued at $1,340,000 after buying an additional 38 shares in the last quarter. AGH Wealth Advisors LLC increased its stake in shares of Eaton by 2.6% in the first quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock worth $412,000 after purchasing an additional 38 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Eaton by 4.2% in the first quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock worth $259,000 after purchasing an additional 38 shares during the period. Finally, Tritonpoint Wealth LLC grew its position in Eaton by 3.9% during the first quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company's stock worth $282,000 after buying an additional 39 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

Shares of ETN traded up $7.39 during mid-day trading on Friday, hitting $392.29. 2,106,513 shares of the company's stock were exchanged, compared to its average volume of 2,016,849. The stock's 50-day simple moving average is $344.57 and its 200-day simple moving average is $316.22. The firm has a market cap of $153.50 billion, a price-to-earnings ratio of 39.59, a price-to-earnings-growth ratio of 2.90 and a beta of 1.17. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $393.07.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data 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. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period last year, the firm posted $2.40 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.06%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ETN shares. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $396.00 price objective on shares of Eaton in a report on Monday, July 14th. Evercore ISI boosted their price objective 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. The Goldman Sachs Group upped their target price on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Barclays upped their price objective on shares of Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Finally, BNP Paribas began coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Six equities research 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, Eaton presently has an average rating of "Moderate Buy" and an average price target of $377.89.

Insiders Place Their Bets

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