Boyd Watterson Asset Management LLC OH Buys 1,674 Shares of Eaton Corporation, PLC (NYSE:ETN)

Boyd Watterson Asset Management LLC OH increased its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,453 shares of the industrial products company's stock after buying an additional 1,674 shares during the period. Eaton comprises about 2.2% of Boyd Watterson Asset Management LLC OH's holdings, making the stock its 12th biggest position. Boyd Watterson Asset Management LLC OH's holdings in Eaton were worth $6,919,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. FMR LLC raised its stake in Eaton by 1.2% in the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock valued at $5,051,807,000 after purchasing an additional 182,455 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Eaton by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock worth $2,714,677,000 after purchasing an additional 129,071 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Eaton by 4.3% in the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after acquiring an additional 192,482 shares in the last quarter. Northern Trust Corp boosted its position in shares of Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after acquiring an additional 368,241 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Eaton during the 4th quarter valued at approximately $1,495,582,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley lowered their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Sanford C. Bernstein restated an "outperform" rating and issued a $396.00 price target on shares of Eaton in a research report on Monday, July 14th. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Citigroup raised their price target on Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Wells Fargo & Company lifted their target price on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $377.89.

Eaton Trading Up 1.9%

Shares of Eaton stock traded up $7.39 during trading hours on Friday, hitting $392.29. The company's stock had a trading volume of 2,106,513 shares, compared to its average volume of 2,016,849. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $393.07. The firm has a fifty day moving average of $344.57 and a 200-day moving average of $316.22. The stock has a market cap of $153.50 billion, a price-to-earnings ratio of 39.59, a P/E/G ratio of 2.90 and a beta of 1.17. 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 posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping 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 revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.40 EPS. Research analysts forecast 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. Investors of record on Thursday, August 7th will be paid a $1.04 dividend. 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%.

Insider Buying and Selling

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider directly owned 3,382 shares of the company's stock, 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 SEC, which can be accessed through this link. Also, insider Craig Arnold sold 103,486 shares of the company'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 transaction, the insider owned 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,660 shares of company stock worth $49,622,894. Company insiders own 0.30% of the company's stock.

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.