Bearing Point Capital LLC Has $2.51 Million Position in Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Bearing Point Capital LLC increased its holdings in Eaton Corporation by 12.8%, bringing its total to 9,226 shares worth approximately $2.5 million.
• Insider Craig Arnold sold 103,486 shares at an average price of $322.75, resulting in a significant 17.43% decrease in his ownership stake.
• Eaton recently announced a quarterly dividend of $1.04 per share, with an annualized dividend yield of 1.06%, highlighting a dividend payout ratio of 41.98%.

Bearing Point Capital LLC grew its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,226 shares of the industrial products company's stock after purchasing an additional 1,050 shares during the quarter. Bearing Point Capital LLC's holdings in Eaton were worth $2,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ETN. IMA Advisory Services Inc. acquired a new stake in shares of Eaton during the first quarter worth $25,000. Capital A Wealth Management LLC acquired a new stake in Eaton in the 4th quarter worth about $26,000. Creative Financial Designs Inc. ADV boosted its holdings in Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 51 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton during the 4th quarter worth approximately $33,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Eaton during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Trading Up 0.2%

Shares of Eaton stock traded up $0.81 on Monday, hitting $392.98. The stock had a trading volume of 2,334,412 shares, compared to its average volume of 1,936,998. The stock has a 50 day moving average of $344.57 and a 200 day moving average of $315.82. The firm has a market capitalization of $153.77 billion, a P/E ratio of 39.65, a PEG ratio of 2.96 and a beta of 1.17. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $399.56. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31.

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

Eaton Dividend Announcement

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 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton's dividend payout ratio is currently 41.98%.

Insider Activity

In related news, insider Michael Yelton sold 2,120 shares of the company'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 sale, the insider directly owned 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction that occurred 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 owned 490,208 shares of the company's stock, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock worth $49,622,894 over the last ninety days. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. BNP Paribas Exane started coverage on shares of Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Evercore ISI increased their price target 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. KeyCorp lifted their price objective on shares of Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and a consensus price target of $377.89.

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.