Eaton Corporation, PLC (NYSE:ETN) Shares Sold by Catalina Capital Group LLC

Catalina Capital Group LLC reduced its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 50.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,295 shares of the industrial products company's stock after selling 1,337 shares during the period. Catalina Capital Group LLC's holdings in Eaton were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Capital A Wealth Management LLC purchased a new stake in Eaton in the fourth quarter valued at approximately $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton in the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new stake in shares of Eaton during the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton during the 4th quarter worth $33,000. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of Eaton in the 4th quarter worth $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Down 0.1%

ETN stock traded down $0.50 during midday trading on Friday, hitting $334.36. 981,857 shares of the company's stock were exchanged, compared to its average volume of 2,641,438. The firm has a 50 day moving average price of $309.71 and a 200-day moving average price of $313.95. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99. The stock has a market capitalization of $130.84 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.60 and a beta of 1.16. 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 (NYSE:ETN - Get Free Report) last issued its quarterly earnings results 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 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 analyst estimates of $6.26 billion. During the same quarter in the previous year, the firm earned $2.40 earnings per share. The business's revenue was up 7.3% compared to the same quarter last year. On average, analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared 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. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.24%. Eaton's payout ratio is 41.98%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ETN shares. JPMorgan Chase & Co. lifted 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. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Barclays raised their target price on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research note on Monday, June 9th. Evercore ISI upped their price target on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Finally, KeyCorp increased their price target on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $368.78.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the transaction, the insider now directly owns 490,208 shares of the company's stock, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,660 shares of company stock worth $49,622,894. Corporate 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.