Worth Financial Advisory Group LLC Has $902,000 Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

Worth Financial Advisory Group LLC lowered its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 34.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,320 shares of the industrial products company's stock after selling 1,776 shares during the period. Worth Financial Advisory Group LLC's holdings in Eaton were worth $902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norden Group LLC increased its position in shares of Eaton by 3.4% in the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock worth $325,000 after purchasing an additional 32 shares during the last quarter. Nwam LLC grew its position in shares of Eaton by 0.6% during the 4th quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock valued at $1,764,000 after buying an additional 34 shares during the last quarter. Founders Financial Alliance LLC grew its position in shares of Eaton by 0.7% during the 4th quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock valued at $1,797,000 after buying an additional 35 shares during the last quarter. Sound View Wealth Advisors Group LLC grew its position in shares of Eaton by 1.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company's stock valued at $1,190,000 after buying an additional 38 shares during the last quarter. Finally, Lantern Wealth Advisors LLC grew its position in shares of Eaton by 1.0% during the 4th quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock valued at $1,340,000 after buying an additional 38 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

ETN has been the subject of a number of recent research reports. Wells Fargo & Company reaffirmed an "overweight" rating and set a $355.00 price objective on shares of Eaton in a research report on Monday, May 5th. JPMorgan Chase & Co. boosted their price objective on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. BNP Paribas initiated coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. KeyCorp boosted their price objective on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Eaton presently has an average rating of "Moderate Buy" and an average target price of $368.78.

Eaton Price Performance

Shares of NYSE:ETN traded down $3.52 during trading on Friday, reaching $331.34. The company had a trading volume of 4,406,960 shares, compared to its average volume of 2,656,564. The firm's fifty day moving average is $310.79 and its 200 day moving average is $313.22. The firm has a market capitalization of $129.65 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 2.57 and a beta of 1.16. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the business earned $2.40 earnings per share. The business's quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio is presently 41.98%.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction that occurred 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 sale, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction that occurred 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 approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 over the last ninety days. 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.