Arkadios Wealth Advisors Boosts Holdings in Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Arkadios Wealth Advisors increased its holdings in Eaton Corporation by 31.3%, bringing their total shares to 3,899, worth approximately $1,060,000.
• Insider sales included Michael Yelton selling 2,120 shares and Craig Arnold selling 103,486 shares, indicating significant insider movement within the company.
• Several analysts have raised their price targets on Eaton, with Goldman Sachs adjusting it from $345.00 to $382.00, reaffirming a "buy" rating on the stock.

Arkadios Wealth Advisors boosted its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 31.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,899 shares of the industrial products company's stock after purchasing an additional 929 shares during the period. Arkadios Wealth Advisors' holdings in Eaton were worth $1,060,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ETN. Carl P. Sherr & Co. LLC boosted its holdings in shares of Eaton by 5.6% in the 1st quarter. Carl P. Sherr & Co. LLC now owns 2,733 shares of the industrial products company's stock valued at $743,000 after buying an additional 146 shares during the last quarter. Tredje AP fonden boosted its holdings in shares of Eaton by 152.9% during the 1st quarter. Tredje AP fonden now owns 474,124 shares of the industrial products company's stock worth $128,881,000 after buying an additional 286,662 shares during the period. XTX Topco Ltd raised its holdings in Eaton by 440.6% in the 1st quarter. XTX Topco Ltd now owns 20,179 shares of the industrial products company's stock valued at $5,485,000 after acquiring an additional 16,446 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Eaton during the first quarter worth approximately $3,617,000. Finally, FSA Advisors Inc. acquired a new position in shares of Eaton in the first quarter valued at approximately $234,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Up 0.7%

Shares of Eaton stock traded up $2.56 during midday trading on Wednesday, reaching $359.01. The company had a trading volume of 4,506,550 shares, compared to its average volume of 3,087,675. The firm has a market cap of $140.48 billion, a PE ratio of 36.23, a P/E/G ratio of 2.90 and a beta of 1.18. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $399.56. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The stock has a fifty day moving average price of $352.77 and a 200 day moving average price of $317.96.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.03. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the company posted $2.73 EPS. The business's quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, August 7th. Eaton's payout ratio is presently 41.98%.

Analysts Set New Price Targets

ETN has been the topic of several recent research reports. The Goldman Sachs Group increased their price objective on Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $396.00 price objective on shares of Eaton in a research note on Monday, July 14th. Wells Fargo & Company increased their price target on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Evercore ISI raised their target price on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada increased their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $380.74.

Insider Activity

In other Eaton news, insider Craig Arnold sold 103,486 shares of the firm's 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 directly owned 490,208 shares in the company, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by 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.