Eaton Corporation, PLC (NYSE:ETN) Stock Position Trimmed by Lindbrook Capital LLC

Lindbrook Capital LLC decreased its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 18.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,773 shares of the industrial products company's stock after selling 838 shares during the period. Lindbrook Capital LLC's holdings in Eaton were worth $1,026,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Capital A Wealth Management LLC bought a new stake in shares of Eaton during the 4th quarter worth about $26,000. Murphy & Mullick Capital Management Corp bought a new stake in Eaton during the fourth quarter worth approximately $33,000. Vermillion Wealth Management Inc. acquired a new stake in Eaton in the fourth quarter worth approximately $33,000. Creative Financial Designs Inc. ADV boosted its stake in Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. Finally, Abound Wealth Management increased its position in shares of Eaton by 73.8% during the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 62 shares during the period. Institutional investors own 82.97% of the company's stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $378.89 on Monday. The firm has a market cap of $148.26 billion, a price-to-earnings ratio of 38.23, a P/E/G ratio of 2.86 and a beta of 1.17. 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 Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $384.51. The business has a fifty day simple moving average of $339.29 and a 200 day simple moving average of $314.57.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share 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 firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the firm earned $2.40 earnings per share. The company's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.10%. Eaton's dividend payout ratio (DPR) is currently 41.98%.

Insider Activity at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider owned 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated 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 directly owned 490,208 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ETN. Morgan Stanley dropped their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Citigroup boosted their target price on shares of Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a report on Monday, July 14th. KeyCorp lifted their price target on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. BNP Paribas initiated coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $377.89.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.