Nvwm LLC Acquires 5,626 Shares of Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Nvwm LLC significantly increased its holdings in Eaton Corporation by 118.8% in the first quarter, owning 10,363 shares valued at approximately $2.8 million.
• Analysts have generally rated Eaton positively, with a consensus average rating of "Moderate Buy" and a target price averaging $377.89 per share.
• Eaton Corporation recently declared a quarterly dividend of $1.04 per share, reflecting an annualized payout of $4.16 and a yield of 1.08%.

Nvwm LLC increased its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 118.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,363 shares of the industrial products company's stock after buying an additional 5,626 shares during the quarter. Nvwm LLC's holdings in Eaton were worth $2,817,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Norges Bank bought a new position in Eaton during the fourth quarter worth $1,495,582,000. GAMMA Investing LLC lifted its stake in Eaton by 27,281.9% during the first quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock worth $976,772,000 after purchasing an additional 3,580,198 shares during the last quarter. Capital International Investors bought a new position in Eaton during the fourth quarter worth $523,541,000. Leigh Baldwin & CO. LLC bought a new stake in shares of Eaton in the 4th quarter worth approximately $231,552,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Eaton by 24.3% in the 4th quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company's stock worth $998,144,000 after purchasing an additional 588,370 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ETN shares. Citigroup raised their price target on Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a report on Monday, July 14th. BNP Paribas Exane initiated coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. BNP Paribas initiated coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, JPMorgan Chase & Co. lifted their price target on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $377.89.

Eaton Stock Up 0.2%

Shares of ETN stock traded up $0.81 on Monday, reaching $392.98. 2,328,119 shares of the company's stock traded hands, compared to its average volume of 3,069,712. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-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. The company has a market capitalization of $153.77 billion, a P/E ratio of 39.65, a price-to-earnings-growth ratio of 2.96 and a beta of 1.17. The business's 50 day moving average price is $344.57 and its two-hundred day moving average price is $315.82.

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, beating analysts' consensus estimates 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 return on equity of 23.41% and a net margin of 15.55%. The business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.40 earnings per share. On average, equities analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Thursday, August 7th. This represents a $4.16 dividend on an annualized basis and a yield of 1.06%. Eaton's payout ratio is 41.98%.

Eaton 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.