Eaton Corporation, PLC (NYSE:ETN) Shares Sold by PFG Investments LLC

PFG Investments LLC trimmed its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 40.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,392 shares of the industrial products company's stock after selling 2,974 shares during the period. PFG Investments LLC's holdings in Eaton were worth $1,194,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Eaton by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $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% during the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock worth $5,051,807,000 after buying an additional 182,455 shares during the last quarter. Geode Capital Management LLC boosted its stake in Eaton by 1.6% during 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 buying an additional 129,071 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in 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 buying an additional 192,482 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Eaton by 8.8% during the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after buying an additional 368,241 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The stock was 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. The trade was a 38.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the sale, the insider now directly owns 489,444 shares in the company, valued at approximately $149,490,880.92. The trade was 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 worth $49,622,894 over the last quarter. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on ETN shares. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research report on Sunday, May 18th. KeyCorp boosted their price objective on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Monday, May 5th. BNP Paribas Exane started coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Citigroup boosted their price objective on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Barclays boosted their price objective on Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a report on Monday, June 9th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $368.78.

Eaton Price Performance

Shares of Eaton stock opened at $331.34 on Monday. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The stock has a market capitalization of $129.65 billion, a P/E ratio of 33.43, a PEG ratio of 2.57 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. The business's fifty day moving average price is $310.79 and its 200 day moving average price is $312.81.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data 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. The company 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 firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.40 earnings per share. As a group, research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio is presently 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.

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