Stratos Wealth Partners LTD. Purchases 4,390 Shares of Eaton Corporation, PLC (NYSE:ETN)

Stratos Wealth Partners LTD. increased its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 15.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,413 shares of the industrial products company's stock after purchasing an additional 4,390 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Eaton were worth $9,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ETN. Capital A Wealth Management LLC purchased a new stake in Eaton in the fourth quarter worth about $26,000. Flagship Wealth Advisors LLC purchased a new stake in Eaton in the fourth quarter worth about $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in Eaton in the fourth quarter worth about $33,000. Vermillion Wealth Management Inc. purchased a new stake in Eaton in the fourth quarter worth about $33,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings 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 worth $27,000 after buying an additional 51 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

NYSE:ETN traded up $3.03 during trading hours on Friday, reaching $360.67. The company had a trading volume of 1,697,991 shares, compared to its average volume of 2,669,932. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. The firm has a market cap of $141.13 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 2.70 and a beta of 1.17. The firm's 50 day moving average price is $332.74 and its 200-day moving average price is $313.67.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results 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. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the firm posted $2.40 EPS. The firm's revenue was up 7.3% on a year-over-year basis. On average, analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 41.98%.

Analyst Upgrades and Downgrades

ETN has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. KeyCorp lifted their target price on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Monday, May 5th. The Goldman Sachs Group lifted their target price on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a report on Tuesday. Evercore ISI lifted their target price on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Finally, Citigroup lifted their target price on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday, May 5th. Six investment 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $370.63.

Insiders Place Their Bets

In related news, 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 approximately $158,214,632. This represents a 17.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the business's 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 sale, the insider owned 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was 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.

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.