Castleview Partners LLC Buys 4,461 Shares of Eaton Corporation, PLC (NYSE:ETN)

Castleview Partners LLC boosted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 664.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,132 shares of the industrial products company's stock after buying an additional 4,461 shares during the quarter. Eaton accounts for approximately 0.9% of Castleview Partners LLC's holdings, making the stock its 22nd biggest position. Castleview Partners LLC's holdings in Eaton were worth $1,395,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ETN. Capital A Wealth Management LLC bought a new stake in shares of Eaton during the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton during the 4th quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton during the 4th quarter valued at about $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Eaton during the 4th quarter valued at about $33,000. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of Eaton during the 4th quarter valued at about $33,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ETN shares. Royal Bank Of Canada lifted their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Barclays lifted their price objective on Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. BNP Paribas Exane started coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $355.00 price objective on shares of Eaton in a research report on Monday, May 5th. Finally, Jefferies Financial Group lowered their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton Price Performance

NYSE:ETN traded down $3.52 during trading hours on Friday, reaching $331.34. The stock had a trading volume of 4,406,960 shares, compared to its average volume of 2,656,564. 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 Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a 50 day moving average price of $310.79 and a two-hundred day moving average price of $313.22. The stock has a market capitalization of $129.65 billion, a PE ratio of 33.43, a PEG ratio of 2.57 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the company posted $2.40 EPS. The company's revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is 41.98%.

Insiders Place Their Bets

In other 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 transaction of $629,364.40. Following the transaction, the insider now owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction, the insider now directly owns 490,208 shares in the company, valued at approximately $158,214,632. This represents 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 valued at $49,622,894 in the last quarter. 0.30% of the stock is currently owned by insiders.

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.