Davidson Investment Advisors Acquires 28,132 Shares of Eaton Corporation, PLC (NYSE:ETN)

Davidson Investment Advisors increased its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 52.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,606 shares of the industrial products company's stock after purchasing an additional 28,132 shares during the period. Davidson Investment Advisors' holdings in Eaton were worth $22,183,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new position in shares of Eaton in the fourth quarter worth $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter worth $27,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the fourth quarter worth $33,000. Vermillion Wealth Management Inc. bought a new position in shares of Eaton in the fourth quarter worth $33,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in Eaton by 102.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after buying an additional 51 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ETN shares. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group reduced their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. raised their price objective on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Morgan Stanley reduced their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group raised their price objective on Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $369.74.

Eaton Trading Down 0.4%

Shares of ETN stock traded down $1.32 during mid-day trading on Tuesday, reaching $357.17. 1,739,272 shares of the stock traded hands, compared to its average volume of 2,667,615. The stock's fifty day simple moving average is $327.78 and its two-hundred day simple moving average is $312.77. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a market cap of $139.76 billion, a price-to-earnings ratio of 36.04, a price-to-earnings-growth ratio of 2.70 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 (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The company 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%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.40 earnings per share. On average, research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio is currently 41.98%.

Insider Buying and Selling

In related news, insider Michael Yelton sold 2,120 shares of Eaton 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 transaction, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The stock was 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 directly owned 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. 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.