Stratos Wealth Partners LTD. Has $9.08 Million Stake in Eaton Corporation, PLC (NYSE:ETN)

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

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Eaton by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock valued at $12,351,506,000 after buying an additional 99,291 shares during the period. 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 buying an additional 182,455 shares during the period. Geode Capital Management LLC raised its stake in Eaton by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock valued at $2,714,677,000 after buying an additional 129,071 shares during the period. Nuveen Asset Management LLC raised its stake in Eaton by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock valued at $1,550,226,000 after buying an additional 192,482 shares during the period. Finally, Northern Trust Corp raised its stake in Eaton by 8.8% in the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after buying an additional 368,241 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Price Performance

Eaton stock traded down $2.00 during mid-day trading on Thursday, reaching $357.78. 2,809,502 shares of the company were exchanged, compared to its average volume of 2,671,382. The company has a fifty day simple moving average of $330.40 and a 200-day simple moving average of $313.40. The firm has a market cap of $140.00 billion, a PE ratio of 36.10, a PEG ratio of 2.71 and a beta of 1.17. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $379.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.40 EPS. As a group, equities research analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued 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 of this dividend was Monday, May 5th. Eaton's dividend payout ratio is presently 41.98%.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction 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 sale, the insider owned 490,208 shares of the company's stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were 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 in the company, valued at approximately $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 ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on ETN. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Morgan Stanley lowered their target price on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. BNP Paribas started 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. Jefferies Financial Group lowered their target price on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Finally, The Goldman Sachs Group increased their target price on Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $370.63.

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.