Eaton Corporation, PLC (NYSE:ETN) Shares Sold by First Pacific Financial

First Pacific Financial lessened its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 17.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,823 shares of the industrial products company's stock after selling 804 shares during the quarter. First Pacific Financial's holdings in Eaton were worth $1,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ETN. Vanguard Group Inc. lifted its position in shares of Eaton by 0.3% during 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 last quarter. FMR LLC boosted 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 acquiring an additional 182,455 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 worth $2,714,677,000 after purchasing an additional 129,071 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Eaton by 4.3% during the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after purchasing an additional 192,482 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after purchasing an additional 368,241 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank Of Canada upped their target price on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. BNP Paribas Exane started coverage on shares of Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. Citigroup lifted their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $355.00 price target on shares of Eaton in a report on Monday, May 5th. Finally, Jefferies Financial Group dropped their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and an average price target of $368.78.

Eaton Stock Performance

Shares of NYSE:ETN traded up $6.43 during trading on Thursday, hitting $348.78. 2,284,424 shares of the stock traded hands, compared to its average volume of 2,660,258. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average price of $314.71 and a two-hundred day moving average price of $312.97. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99. The company has a market cap of $136.48 billion, a price-to-earnings ratio of 35.20, a P/E/G ratio of 2.65 and a beta of 1.16.

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, beating analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion for 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 company's quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $2.40 EPS. As a group, equities analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is presently 41.98%.

Insider Buying and Selling at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the company's 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 completion of the sale, the insider now owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the transaction, the insider now directly owns 489,444 shares in the company, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 over the last ninety days. Corporate insiders own 0.30% of the company's stock.

About Eaton

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.